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BizReport : Ecommerce archives : December 08, 2010

comScore: Holiday spending up 12% so far this year

So far this holiday spending has not disappointed for etailers, although spending hasen't exactly been out-of-the-park, either. For the first 35 days of the holiday shopping season, comScore researchers find spending is up about 12% Year over Year (YoY), reaching just over $17.5 billion. And, as in 2009, there has already been a record spending day.

by Kristina Knight

comscore.gifIn 2009, the record spending day reached just over $800 million. This year that record number was brought in on Cyber Monday when spending reached $1.028 billion; there have been 4 days which reached more than $800 million in spending so far this season.

"We anticipated that the post-Cyber Monday period would experience a slight hangover after many of the retailers' most aggressive deals and promotions expired, but we can expect to see activity begin to pick up again next week as we get into the middle part of December when online buying typically peaks," said Gian Fulgoni, comScore chairman.

While the deals will likely not go below the Black Friday/Cyber Monday numbers, the other offers, including free shipping will likely increase. Between November 7 and December 5 between 45% and 51% of online purchases received free shipping.

"Retailers have increasingly responded to this consumer demand, with market leaders Amazon and Walmart, for example, both offering free shipping on virtually all transactions this season," said Fulgoni. "Importantly for retailers, transactions with free shipping run an average of 30 percent higher in basket value than those without, hopefully helping to offset some of the margin compression that can occur with such attractive incentives."

Tags: 2010 holiday season, 2010 holiday spending, comScore, ecommerce, Gian Fulgoni, online spending

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