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E-Commerce Gets a Holiday Boost
13 Jan, 2010 By: Jacqueline Renfrow Response This WeekNEW YORK – ComScore reported that E-commerce sales for the holiday season were back up to just under 2007 levels, coming in better than expected and providing a boost to the end of 2009, reports AdAge.com. Looking at November and December, sales rose 4.3 percent to $29.1 billion, compared with $28 billion one year ago and nearly matching the $29.2 billion earned in 2007.
Through October 2009, sales were down 1 percent compared with 2008 and during the holidays in 2008, sales dropped 3 percent.
“It’s possible that this better-than-expected end-of-year performance is a harbinger of renewed vigor and optimism for 2010 as the consumer economy seeks to rebound from one of the worst years in memory,” says Gian Fugoni, chairman of ComScore. “At the same time, we need to remember that consumers’ spending power remains constrained by high unemployment levels, substantial debt and newfound desire to save.”
Originally, ComScore forecasted that E-commerce would increase 3 percent. The National Retail Federation had predicted a 1-percent decline in holiday sales and yet MasterCard Advisors estimated that retail sales increased 3.6 percent between Nov. 1 and Dec. 24.
Online sales in November increased 15.5 percent – and 17.7 percent in December. Online seemed to have the advantage due to major winter storms across the East Coast on the Saturday before Christmas and in the Midwest during Christmas week. In addition, bargain hunters turned to online outlets, which often offer additional coupons and in-store pick up options.
