comScore: Compared to one year ago, online retail spending grew 10 percent to nearly $34 billion in the first quarter of 2010. That marks the first time growth has reached double digits since the second quarter of 2008.
However, comScore chairman Gian Fulgoni cautions, While these spending gains provide reason for optimism, we should note that upper-income households are currently shouldering much of the growth. Should the economy falter in the second half of the year and upper-income consumers return to a savings mode, we could still see growth decelerate. But for the time being, this momentum is encouraging.