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Holiday Season Shoppers Spend $7B Online in One Week

Despite record spending, sales slower than expected.

Holiday season shoppers were busy last week, generating more than $7 billion in online sales.

That’s a record, according to researcher comScore, which reports online sales from Dec. 10 to Dec. 16 reached $7.019 billon. So far, shoppers have spent $35 billion online—a 13-percent increase compared to a year ago—during the first 46 days of the holiday season.

That is cause for celebration among merchants, but sales are slower than experts initially predicted for the holiday season, says comScore Chairman Gian Fulgoni.

He notes that officials thought last week to be “record-setting, and it clearly was, with an impressive spending total of more than $7 billion—an average of more than $1 billion in spending per day.” However, the 13-percent increase so far for holiday sales is slower the 17-percent increase officials predicted in late November.

This week, which started with Free Shipping Day, will be “critical in making up some ground on a season-to-date growth rate that remains below initial expectations” after the busy Cyber Monday, Fulgoni continues.

“With many retailers extending their free shipping offers into Tuesday and Wednesday of this week, we just may see the sort of late-season jolt needed to push growth rates back into the mid-teens,” he adds.

Cyber Monday continues to be the top spending day of the 2012 holiday season, generating $1.465 billion worth of online sales. Dec. 4 is second, with sales of about $1.362 billion. Green Monday is third, with about $1.27 billion in online sales, comScore reports.

About the author

Olga Munoz
Olga Munoz is editor of TheOnlineSeller.com. In addition to writing news and feature articles about e-commerce, selling trends, online marketing and other topics of interest to online sellers, Olga manages the site's social media efforts. A journalism graduate of Chico State, Olga says her favorite part of being a journalist is learning interesting facts that help put stories into perspective, attending industry events and meeting interesting people "that leave you smiling, even in tough situations." Opinions expressed here may not be shared by The Online Seller and/or its principals.



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