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Online Christmas Retail Nears $25B

Dec 12, 2011 1:37 PM   By Jeff Miller
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RAPAPORT... Online retail sales from November 1 through December 9 have maintained a 15 percent year on year increase, as tracked by comScore, and reached $24.6 billion. For the most recent week, online retail sales hit $5.9 billion and three individual  days surpassed $1 billion in spending, according to comScore.

''The most recent week of the online holiday shopping season saw growth rates remain in line with the season-to-date at 15 percent and three individual spending days eclipse the $1 billion threshold,'' said comScore's chairman, Gian Fulgoni. ''These highlights represent another very positive sign for the holiday shopping season, as the week following ‘Cyber Week’ often experiences relative softness in spending momentum due to retailers pulling back on their promotional activity. As we enter what will be the heaviest week of the season for online retailers – beginning with ‘Green Monday’ on December 12 – all signs are now pointing to a strong finish to the season.''

Green Monday, which is today,  was coined by eBay in 2007 to describe the Monday occurring in  the second week of December, which has tended to be the heaviest (or among the heaviest) online spending days of the year.  Green Monday has consistently ranked among the top spending days of the Christmas shopping season, ending the year as the top-ranked spending day twice in 2005 and 2007 and the second-ranked spending day three times in 2006, 2008 and 2010.

''We know that Green Monday will rank among the top online spending days of the season, but it’s hold on the No. 1 position may be slipping somewhat over time,'' added Fulgoni. ''One possible reason is that as free shipping day (December 16) gains in importance each year, online spending during the heaviest week of the season is being more evenly distributed throughout the week, whereas in the past there was a much higher concentration of spending during the early part of the week.''


 

Tags: christmas, growth, Jeff Miller, Online, projections, retail, sales, spending
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