Will Holiday Spending Peak Today?
Consumers have spent $19.9 billion online since early November, up 3 percent from the year-earlier period, according to comScore (SCOR). But today may be where the action is.
The market-research firm said that shoppers spent $4.64 billion online last week, up 4 percent, with Thursday, Dec. 10 spending reaching $852 million (the third-strongest day of the season to date, following Cyber Monday’s $887 million and the following day’s $886 million).
ComScore said it is likely to see the heaviest spending this season today, also known as Green Monday, as Internet users scramble to get purchases delivered by Christmas. What analysts hope for is a day in which e-commerce reaches $900 million, which would be a record sum, and Green Monday represents the day most likely to achieve it.
This year’s holiday-spending prospects are strong, Lazard Capital Markets said. It hosted a Friday call with e-commerce firm Channel Intelligence, which said it expects growth rates to remain positive after a promising Black Friday start.