Record Web Sales in the Holiday Forecast
The 2010 holiday shopping season has already produced vigorous spending in the U.S., according to several reports. And the forecast for the next four weeks is even better, with comScore predicting online holiday sales to be the highest on record.
The research firm’s data shows that consumers spent more than $9 billion during the first three weeks of November, which is a 13-percent increase over 2009. The company projects that total to surpass $32 billion by the end of December, which would be higher than the pre-recession total posted in 2007.
The annual total for 2010 through the month of October was nearly $110 billion, a 9-percent increase over the same duration last year.
A separate report from MasterCard Advisors SpendingPulse showed that early-November 2010 Internet sales were up 11.4 percent from last year, which comes on top of strong 7- to 8-percent growth for the months of August and September. The MasterCard data tracks the total 2010 holiday spending to be about the same as the previous high-water mark of 2007.
One more important note for retailers from comScore’s data: 33 percent of consumers polled said that they would not make an online purchase this holiday season without free shipping.