You are here
SAN FRANCISCO - Internet consumers jumped head first into the holiday spirit, ringing up a record $2.0 billion in online sales in the week after Thanksgiving, a study reported on Tuesday.
According to comScore Networks Inc., an online market research firm based in Reston, Va., Internet consumer spending is on track to reach a fourth-quarter record, buoyed by a 34 percent jump in sales the week after the Thanksgiving holiday from a year earlier.
The $2.0 billion spent online by consumers in the week after Thanksgiving, compared with about $1.5 billion in the year-earlier week, provided a substantial boost to Internet retailers' holiday-season sales, said Michelle David Adams, vice president of comScore Networks.
The firm records Internet sales from more than 50,000 online merchants, including Amazon.com, on a daily basis.
While travel spending was the dominant force pushing e-commerce trends higher in the off-season, non-travel sales have now become the growth engine, Adams noted.
While overall holiday retail sales are expected to grow modestly, online shoppers are expected to spend $25 billion to $26 billion in the fourth quarter, up 58 percent to 65 percent from $15.8 billion last year, according to comScore.
Cumulative consumer online sales from Nov. 1 through Dec. 6 reached $8.2 billion, up 29 percent from the same period a year earlier year, according to comScore.