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Online Holiday Spending To Reach $32B; E-Commerce Sales Already Up 13 Percent

Leena Rao

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Leena Rao is currently a Senior Editor for TechCrunch. She recently finished graduate school at the Medill School of Journalism at Northwestern University, where she studied business journalism and videography. From 2004 to 2007, she helped lead Congresswoman Carloyn Maloney’s community outreach and relations efforts in New York City. She graduated from Columbia University in 2003, where she was... → Learn More

Tuesday, November 23rd, 2010
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Good news for online retailers this holiday shopping season. According to data collected by comScore, e-commerce spending should increase by 11 percent this holiday shopping season. Already, consumers have spent $9 billion online in the first 21 days of November, which is an 13 percent increase versus the corresponding days last year.

comScore is forecasting that online spending from the November to December period will reach $32.4 billion, representing an 11 percent gain versus year ago. In 2009, consumers spent $29 billion on holiday e-commerce purchases. Last year’s e-commerce holiday spending rose by 4 percent from 2008.

Of course, we haven’t even hit Black Friday or Cyber Monday, which are expected to bring in big sales for online retailers.

The company also surveyed a small group of respondents (500) to measure sentiment around the holiday shopping season. According to the survey, 36 percent of respondents said they are seeing more discounts, sales and promotions. When asked how important free shipping is for making an online holiday purchases, 77 percent of consumers said that this was an important factor.

It’s no surprise that free shipping is popular this holiday season; 41 percent of online retail transactions for the third quarter of 2010 included free shipping. Consumers are increasingly looking to save on free shipping and retailers are responding with promotional offers.

Crunchbase

Company: comScore
Website: comscore.com
Launch Date: August 1999
IPO: March 4, 2007, SCOR

“comScore is a global Internet information provider to which leading companies turn for consumer behavior insight that drives successful marketing, sales and trading strategies. comScore’s experienced analysts work closely with clients to identify their business objectives and determine how they can best apply and benefit from comScore’s vast databases of consumer behavior. comScore maintains massive proprietary databases that provide a continuous, real-time measurement of the myriad ways in which the Internet is used and the wide variety of activities that...

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