Online Shopping Up From Last Year, but Well Below Trend
Internet researcher comScore (SCOR) said consumers spent more shopping online in the first 22 days of the holiday season than they did during the same period last year.
But even though they are expected to spend more this season than during last year’s downtrodden holiday season, consumers are likely to keep their online spending tempered, the group said.
ComScore said consumers spent $8.21 billion online from Nov. 1-22, a 2 percent jump from the same period a year earlier. It expects the total for both November and December to reach $28.8 billion, a 3 percent gain from last year’s holiday season. Results fell 3 percent last year and comScore noted prior-years growth was 20 percent or higher.
“Online spending this holiday season will likely be tempered by the stark reality of 10 percent unemployment and less disposable income in many consumers’ wallets,” said comScore Chairman Gian Fulgoni.