Report: Online Holiday Spending Forecast at $24.6B
Reston, VA, December 21, 2006--Estimates for consumer online non-travel retail spending at U.S. web sites for the 2006 holiday season through Monday, December 18, according to ComScore Networks, reached $20.65 billion, marking a 25-percent increase versus the corresponding days in 2005.
“The strategy of luring holiday shopping procrastinators with extended shipping guarantees paid off handsomely for online retailers,” said Gian Fulgoni, chairman of ComScore Networks. “Consumers spent more than $643 million during the weekend of December 16-17, up 34 percent versus the corresponding days last year. Monday, December 18 saw $525 million in spending, which marked a 28-percent increase. That we are seeing above-average growth rates this late in the holiday season is clear evidence that consumers have strong faith in the ability of online retailers to ‘deliver the goods.’ ”
Online retailers enjoyed a bountiful holiday season as twelve days exceeded the $600 million threshold. In comparison, the highest day in for online retail spending during 2005 was on Monday, December 12, with $556 million spent. In 2006, the highest single-day total was $667 million on Wednesday, December 13, followed by Monday, December 11 ($661 million) and Monday, December 4 ($647.5 million). Interestingly, Monday, November 27 (“Cyber Monday”) was the twelfth-highest spending day for the season.
