February 2011 held strong with the fourth month of eCommerce growth over the same time last year. According to MasterCard Advisors, consumers spent $13.8 billion online during the month of February, which is an increase of 13.2% year-over-year. February sales have continued the upswing in the industry as it marked the fourth consecutive month of double-digit growth for e-commerce sales. February sales were even higher than January’s at $13.1 billion.
Dydacomp SiteLINK eCommerce stores saw a boost in sales compared to last year as well. Overall the online jewelry industry saw a sales increase of 7.2% year-over-year in February, while Dydacomp’s SiteLINK jewelry retailers saw a 42% increase in sales from last year. SiteLINK Home Furnishing businesses also saw an increase of 24% over last year.
According to MasterCard, the growth is due to the cold weather and rising gas prices that kept shoppers indoors and on their computers. “Not only are online sales doing well, e-retailers are stealing channel share from the bricks-and-mortar stores,” said John Gamel, a MasterCard Advisors SpendingPulse analyst.” As gas prices continue to rise, eCommerce businesses should continue to see a rise in online sales as consumers are more inclined to shop from the comfort of their own homes. Let’s hope that March 2011 marks the 5th consecutive month of growth.
How did your store do over the past 2 months? Have you seen similar results? Let us know!