Holiday season online retail spending to increase 11%
US online retail spending is expected to reach $32.4bn in the holiday season (November – December 2010), a 11% increase compared to $29.1bn in the previous year, according to data released by comScore.
The report revealed that the online retail spending has increased by 13% to $9.01bn between 1 and 21 November, compared to $7.95bn in the same period a year ago.
comScore chairman Gian Fulgoni said the beginning of the online holiday shopping season has gotten off to an extremely positive start, outperforming their earlier expectations.
"Despite continued high unemployment rates and other economic concerns, consumers seem to be more willing to open up their wallets this holiday season than last," Fulgoni said.
comScore said that in the survey, conducted between November 11-15, 2010, consumers indicated that they believe retailers’ promotional activity for the early part of the season has increased in relation to last year.
The report said that 36% of respondents indicated that they are seeing more discounts, sales and promotions, while 11% think that there are fewer discounts, sales, or promotions.
Further, when asked how important free shipping is for making an online purchase this holiday season, more than three-quarters of consumers indicated it was important.