Online Holiday Spending Hits Record $913 Million
December 21, 2009
Online holiday shoppers have spent a total of $24.8 billion so far this season, representing a 4 percent increase over last year, according to the latest report from comScore.
The most recent week got off to a slightly sluggish start, with sales of $854 million on Green Monday (Dec.14) down 1 percent compared to a year ago, but was followed by three strong spending days that each surpassed $800 million. Tuesday, December 15 was a record spending day reaching $913 million, the first such day to surpass the $900 million mark.
"Going into this most recent week, we had anticipated that Monday or Tuesday would post the highest online spending total of the season and perhaps be the first day on record to surpass $900 million," said comScore chairman Gian Fulgoni. "Despite a disappointing start to the week, with sales on Monday of $854 million down 1 percent versus 2008, we were encouraged to see spending continue strongly throughout the balance of the work week, led by Tuesday's record $913 million."
"In fact, each day through Thursday December 17 - the last day that many online retailers would guarantee free shipping in time for Christmas - saw at least $800 million in spending, which suggests that savvy consumers may have been waiting for those last-minute deals."
The second heaviest spending day was Cyber Monday (Nov.30) with $887 million, the highest it has ever ranked, followed by Tuesday, December 1, with $866 million in spending.
"In a typical year, Cyber Monday tends to be the eighth to tenth heaviest spending day, but this year it moved higher up the list than ever before," added. Mr. Fulgoni.
"In part, this is due to the fact that the day fell fairly late in the season, so that pent up consumer demand likely boosted its performance, but also because of the increasing marketing hoopla and promotional activity that surround the day."
Free shipping has remained a key driver of online shopping throughout the holiday season. During each week, at least 45 percent of all transactions included free shipping. The peak occurred during the week ending December 6, with 50 percent of all transactions including free shipping.
The average order value for online transactions peaked at $117 during the week ending November 29, and the week ending December 6, outpacing the corresponding weeks in 2008. For the week ending November 29, the average order value for transactions including free shipping was $124 while the average order for those without free shipping was $111. For the week ending December 6, the average order value for transactions including free shipping was $134 while the average order for those without free shipping was a much lower $103.
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Online Holiday Spending Closes In On $20 Billion
December 14, 2009
Online holiday spending reached $19.9 billion in the first 41 days of the shopping season, marking a 3 percent increase over the same time period last year, according to the latest report from comScore.
The most recent week saw above average online spending growth of 4 percent versus a year ago, two days shattered the $800 million mark in spending, led by Thursday, December 10, with $852 million.
"Monday, December 14 - otherwise known as Green Monday - is likely to produce our heaviest online spending total for the season and represents our best opportunity to finally surpass that elusive $900 million spending threshold. The early part of this upcoming week should bring us the heaviest online spending days of the season before consumers refocus their attention on brick-and-mortar retail locations to finish up their holiday shopping."
Since comScore began tracking ecommerce spending in 2001, it has recorded thirteen spending days over $800 million, each has occurred in the past three holiday seasons. The heaviest online spending day on record was Wednesday, December 9, 2008. Of the top ten spending days on record, four happened in 2009, four in 2008, and two in 2007.
Have You Read This?
>Online Holiday Spending Hits $16 Billion
>Walmart Wins Thanksgiving, Amazon Wins Black Friday
>Online Retailers See Strong Cyber Monday Sales
Online Holiday Spending Closes In On $20 Billion
December 14, 2009
Online holiday spending reached $19.9 billion in the first 41 days of the shopping season, marking a 3 percent increase over the same time period last year, according to the latest report from comScore.
The most recent week saw above average online spending growth of 4 percent versus a year ago, two days shattered the $800 million mark in spending, led by Thursday, December 10, with $852 million.
"Monday, December 14 - otherwise known as Green Monday - is likely to produce our heaviest online spending total for the season and represents our best opportunity to finally surpass that elusive $900 million spending threshold. The early part of this upcoming week should bring us the heaviest online spending days of the season before consumers refocus their attention on brick-and-mortar retail locations to finish up their holiday shopping."
Since comScore began tracking ecommerce spending in 2001, it has recorded thirteen spending days over $800 million, each has occurred in the past three holiday seasons. The heaviest online spending day on record was Wednesday, December 9, 2008. Of the top ten spending days on record, four happened in 2009, four in 2008, and two in 2007.
Have You Read This?
>Online Holiday Spending Hits $16 Billion
>Walmart Wins Thanksgiving, Amazon Wins Black Friday
>Online Retailers See Strong Cyber Monday Sales
Online Holiday Spending Hits $16 Billion
December 9, 2009
Online holiday spending has reached nearly $16 billion, marking a 3 percent increase compared to the same time period last, according to the latest data from comScore.
The most recent week ending December 6 reached 4.6 billion in holiday spending, heavier than any individual spending week in 2008 but still below two individual weeks in 2007. The week began with strong weekday spending, led by $887 million on Cyber Monday, but ended on a quieter note with negative year-over-year growth rates during the weekend.
"After a strong beginning to the week, we saw growth rates decelerate over the weekend to put this past week of holiday shopping in line with our 3 percent growth forecast for the season," said comScore chairman Gian Fulgoni.
"We are anticipating heavy spending for the current week, making it an important determinant for how the holiday season as a whole will perform. Hopefully, we'll see a return to the growth rates we observed during the earlier part of this past week and that the weekend softness was just a temporary hiccup."
comScore also found that social media is having an impact on holiday shopping behavior. According to its holiday survey, 28 percent of those who have begun their holiday shopping this season indicated that social media has influenced their purchases.
User-generated product reviews were the most common form of social media that influenced holiday purchase (13% of respondents), followed by expert product reviews (11%). Seven percent reported they have followed a fan page on Facebook to take advantage of special offers and deals, while 6 percent said they have been influenced by a friend's Facebook status referring to a particular product. Five percent of respondents said they had followed a company on Twitter to take advantage of special offers, while 3 percent indicated that a friend's tweet about a product influenced their buying behavior.
"Social media really appears to be emerging as an important marketing channel this holiday season," added Mr. Fulgoni. "On the one hand, its emergence is being driven by increased consumer adoption of these technologies and the exponential growth in digital word-of-mouth that is occurring over this medium."
"On the other hand, having a social media marketing strategy makes sense for retailers in this environment because it's cost-effective and shows an effort to get closer to one's customers. I think we are getting our first real glimpse at the impact social media will play on commerce as we enter the next decade."
>Cyber Monday Deals Attract Online Shoppers
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>Online Retailers See Strong Cyber Monday Sales
