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Customers in US to spend $43.4bn online during upcoming holidays: comScore

Online spending by US customers during November – December is expected to rise 17% reaching $43.4bn, according to an estimate by comScore.

The surge in spending will be better than last season when it registered 15% increase while the spending spike is far better than retail industry’s expectation of 4.1% increase in consumers’ overall spending this holiday season, the report revealed.

So far the customers have spent about $10.1bn which is a 16% rise compared to the corresponding days last year.

November 8 recorded highest spending in the season with the customers spending $829m.

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comScore chairman, Gian Fulgoni said that this year online holiday shopping season is off to an encouraging start with a 16% growth so far.

"Recent 5-year highs in consumer confidence and early retailer promotions appear to be serving as wind in the sails for the beginning portion of the holiday season, with consumers opening up their wallets early and often," Fulgoni said.

"This spending growth also reflects the continuing channel shift to online as consumers increasingly opt for the attractive pricing, convenience and product selection it offers."

"The strength leading up to and during the holiday season-to-date, in addition to a maximum 32 shopping days between Thanksgiving and Christmas, provide the basis for what we view as a fairly optimistic outlook for the 2012 online holiday shopping season," Fulgoni added.

This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.