During the first 19 days of November this year, total online retail spending in the US reached $6.35 billion, marking a 23% increase versus the corresponding days in 2005, according to a new report from comScore Networks.
Gian Fulgoni, chairman of comScore Networks, said: “With 23% growth versus the same days last year, online holiday retail spending is once again strong coming out of the gate.
“Already we have seen a single day amass $475 million in online retail sales (November 14, 2006). We expect ‘Cyber Monday’ this year to approach $600 million, which would be higher than any single day during the 2005 online holiday shopping season.”
| 2006 Holiday Season To Date vs. Corresponding Days in 2005 |
| Non-Travel (Retail) Spending |
| Excludes Auctions and Large Corporate Purchases |
| Source: comScore Networks |
| |
Billions ($) |
| Holiday Season to Date |
2005 |
2006 |
Pct Change |
| |
| Nov. 1-19 |
$5.18 |
$6.35 |
23% |
| |
ComScore says that with retailers raking in $924 million in online retail sales during the four-day 2005 Thanksgiving weekend, online spending really took off on what it terms ‘Cyber Monday’, to the tune of $484 million.
ComScore estimates that online retail sales during the 2006 Thanksgiving weekend will reach $1.15 billion, while spending on ‘Cyber Monday’ 2006 will reach almost $600 million.
The Interactive Media In Retail Group (IMRG)recently revealed that UK internet shopping reached a new all time high in October (see UK Internet Shopping Reaches October High).
Meanwhile, earlier this month IMRG said that consumers in the UK will spend online an average of £4 million every hour, day and night during the 10 week run-up to Christmas (see Ofcom Plans New Public Service Channel To Rival BBC).
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