US Online Holiday Spending Is Up 12%
In the U.S., retail e-commerce spending for the holiday season-to-date is $22.0 billion, up 12 percent from the $19.7 billion mark reached during the same period last year, according to comScore. The holiday season-to-date is defined as Nov. 1 to Dec. 10.
On Thanksgiving Day, $407 million was spent on non-travel (retail) spending online, up 28 percent from the $318 million spent on the same day in 2009. On Black Friday, $648 million was spent, up 9 percent from the $595 million spent on the same day last year.
Meanwhile, Cyber Monday saw $1.0 billion spent in the U.S., up 16 percent from the $887 million spent on the same day in 2009.
For the most recent week, Dec. 4-10, $5.1 billion was spent, up 11 percent from the same time period last year.
“With more than $5 billion in spending this past week, it’s clear that while deal-seeking shoppers may have driven stronger than anticipated spending early in the season, Americans continue to demonstrate a significantly greater willingness to spend online this year than in seasons past,” said Gian Fulgoni, chairman of comScore. “This coming week, beginning with Green Monday, should see some of the heaviest online shopping activity of the season and we expect at least one more day to surpass the billion dollar spending threshold.”
“Green Monday” was the nickname given by eBay to the Monday around the second week of December. Last year, $854 million was spent on online retail spending, making it the fifth biggest day of the holiday season. In 2008, it ranked as No. 2, while it ranked as No. 1 in 2007.
While Green Monday was expected to be a strong day, Free Shipping Day on Friday, Dec. 17, might cause buying this week to be more evenly distributed.
According to Shop.org’s eHoliday Survey with BIGresearch, 64.3 percent of retailers’ standard shipping deadlines for Christmas delivery will expire on or before Saturday, Dec. 18. Consequently, analysts expect this week to be one of the busiest weeks of 2010.
“The economy will continue to play a role in holiday shoppers’ spending decisions, with free shipping and value being of utmost importance,” said Phil Rist, executive vice president of strategic initiatives for BIGresearch. “Shoppers are drawn to the convenience of the web but may need a little motivation from retailers this week to finish their online holiday shopping before it’s too late.”
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