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2010 holidays end with record $30.8 billion spent online
If the first half of 2010 wasn't a banner year for ecommerce, the last half of the year - specifically the final eight weeks of Q4 - were. New research from comScore finds that consumers spent $30.8 billion online between November 1 and December 26, 2010, a record for online spending.
"Online holiday spending has remained strong through Christmas and we've already seen the season totals easily surpass the levels of the past few years to set a new record for spending at almost $31 billion," said comScore chairman Gian Fulgoni. "For at least this holiday season, the American consumer has been able to shrug off the continuing economic challenges of high unemployment rates and depressed housing prices and spend at a rate that has been slightly stronger than we had expected."
Consumers spent across the board, but the hottest categories for online buys this year were computer hardware (23% purchase increase), books and magazines (22% purchase increase) and consumer electronics (21% purchase increase). The biggest single shopping day for the 2010 holiday season was Cyber Monday, when consumer spent more than $1 billion online, a 16% increase year over year, but Free Shipping Day (December 17) should not be forgotten. One this day, shoppers spent $942 million, a 62% increase year over year.
What can brands do to continue to engage consumers through the early months of 2011, when historically all spending decreases rapidly? Don't forget social channel advertising, where consumers are not only talking about purchases but recommending products, and consider adding a retargeted ad campaign for the post-holiday blues.
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