— JCK-Jewelers Circular Keystone, 12/30/2007 10:19:00 AM
Online retail sales between Thanksgiving and Christmas, which represents the core of the holiday shopping season, totaled $17.9 billion, a 21 percent increase over the same period of 2006, comScore, Inc. reports.
For the entire 2007 holidays season to date (Nov. 1 – Dec. 27), $28 billion has been spent online, a 19-percent gain year-over-year, according to the Reston, Va.-based company, which measures digital data. While it is strong gain, it was far below the 26 percent growth rate recorded in 2006.
“Warm weather during the early part of November took its toll on online retail sales and played a role in holding down the growth in spending over the entire holiday season,” said comScore chairman Gian Fulgoni. “However, if we look at the period between Thanksgiving and Christmas, we see online spending growing at a healthier 21-percent rate, which I think is encouraging given the economic challenges facing consumers this year as a result of higher gas prices, lower home values, and a jittery stock market.”
Fulgoni noted that consumers are still shopping online in force after Christmas.
“Even as the holiday shopping season winds down after Christmas, we continue to see some relatively strong online spending days,” Fulgoni said. “For example, the day after Christmas saw online sales of $545 million, more than double the sales on the same day last year. This would appear to indicate that consumers were willing and able to take advantage of the attractive late-season promotions and price discounts offered by retailers this year.”
ComScore figures exclude travel, auctions, and large corporate purchases.
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