Holiday Online Retail Rejoices With $11.7B
Heavy Internet traffic to websites was virtually matched by the money people were willing to spend on retailer sites, by almost 25 percent more than last year.
There may be twelve days of Christmas, but to online retailers the first 30 days of online shopping were a lot more appealing than turtle doves or French hens. ComScore Networks reported that the period from November 1 to December 1 contained plenty of dollar signs.
Consumers visiting US non-travel online sites, excluding auctions and large corporate purchases, place $11.7 billion in the hands of Internet retailers. Compared with 2005’s $9.35 billion for the same period, 2006 spending ticked up by 24 percent.
ComScore chairman Gian Fulgoni said in a statement that the Monday and Tuesday after Thanksgiving saw particularly impressive numbers. Each day drew $608 million in spending from consumers.
Even better for retailers, the comScore data indicates that visitors spend more money per visit than they have in the past. In citing the increase in spending while visitation has grown at about half that rate, comScore said people spend about 11 percent more per-visit than in 2005.
Historically, sales rise the first and second full weeks of December, while tapering slightly in the third week. That could mean a $3 billion spending week could be in store for retailers this week and/or next week too.
Altogether for the holiday season, comScore anticipates a total of $24.3 billion in November-December 2006 spending. Online entrepreneurs who are in the Windy City this week for SES Chicago can learn more about potentially grabbing more of those sales. We plan to bring articles and videos from the conference to WebProNews readers, so please check back with us through the week.
David Utter is a staff writer for WebProNews covering technology and business.