US Holiday Shopping Up By A Billion Dollars
Despite a slow start in November, online US non-travel retail topped $7 billion for the first 18 days of the holiday season, an increase of $1 billion from the same period in 2006.
|US Holiday Shopping Up By A Billion Dollars|
Energy prices and other economic worries have not put the brakes on Internet shopping yet. Analysis firm comScore said spending rose by 17 percent in the early November period.
ComScore chairman Gian Fulgoni suggested in a statement that unseasonably warm temperatures may have kept people outdoors and away from the computer in the first few days of November, when sales were slow. He said sales have picked up sharply since the first week of the month.
“The growth rates during the second and third weeks of November are likely to be better indicators of how the remainder of the season will play out,” he said. Apparel in particular should see improvement.
Holiday season sales of $7.04 billion for November 1-18 easily outpaced the $6.01 billion spent by US shoppers during the same time in 2006. ComScore forecasted total 2007 holiday e-commerce spending of $29.5 billion, a 20 percent boost over last year’s seasonal spend.