"Best Holiday Season Ever" Actually Worst Holiday Season Ever
The 2008 holiday shopping season was one of the worst on record for the e-commerce sector–despite Amazon’s (AMZN) “best-holiday-season” ever pronouncements. Online retail spending declined three percent year-over-year, according to comScore (SCOR), which had expected sales to remain flat for the period beginning Nov. 1 and ending Dec. 23– the last day to purchase online with the possibility of delivery by Christmas Eve.
“This marks the first time we’ve seen negative growth rates for the holiday season since we began tracking e-commerce in 2001,” said comScore chairman Gian Fulgoni. “The combination of having five fewer shopping days between Thanksgiving and Christmas and the severe economic headwinds faced by consumers has made this a really tough season for retailers, both offline and online.”
Obviously. Online spending for the fourth quarter–Oct. 1 to Dec. 28–is even worse than that of the holiday season. It fell four percent year-over-year to 36.8 billion, marking the first full quarter to record a negative growth rate since comScore first began tracking e-commerce.