ComScore: Happy holiday season (so far) for online retail spending
RESTON, Va. — Online retail spending has seen a big jump this holiday season to date, according to a new report from ComScore.
According to the research firm, retail e-commerce spending for the first 32 days of the November-December 2011 holiday season saw a 15% spike to $18.7 billion, compared with the corresponding days last year. The overall spending was driven by billion-dollar spending days, including Cyber Monday, Nov. 28 ($1.25 billion), followed by Nov. 29 ($1.12 billion) and Nov. 30 ($1.03 billion).
"Cyber Monday kicked the week off with a bang as consumers opened their wallets to the tune of $1.25 billion, but it was only the beginning of a very strong week of online holiday spending," ComScore chairman Gian Fulgoni said. "Tuesday and Wednesday followed with billion dollar spending days, helping Cyber Week reach a record weekly total of nearly $6 billion in spending. As the deals from this week expire, it will be important to see the degree to which consumers return to the same retailers to continue their holiday shopping, thereby helping improve retailers' profit margins, or if we experience a pullback in consumer spending — which has occurred in previous years — before promotional offers and spending intensity pick back up in earnest around mid-December."