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Survey: E-commerce holiday spending closes at $29.2 billion
Online jewelry and watch sales decline
January 08, 2008
Reston, Va.—Online sales reached $29.2 billion for the 2007 holiday season (Nov. 1-Dec. 31), representing a 19 percent increase compared with the same period in 2006, according to ComScore Inc.
"The online holiday shopping season has concluded with a record $29 billion in spending, a 19 percent gain versus a year ago," ComScore Chairman Gian Fulgoni said in a statement released on Monday. "Ultimately, the softness in the growth of online retail sales during the first 10 days of November proved difficult to overcome and prevented the season's growth rate from reaching our forecast of 20 percent. However, the period between Thanksgiving and Christmas —another measure of the strength of the holiday season—experienced a healthier 21 percent growth rate."
"Green Monday" (Dec. 10) was the heaviest individual online spending day of the season with $881 million in sales, followed by Tuesday, Dec. 11 ($819 million), and Thursday, Dec. 6 ($803 million). "Cyber Monday" (Nov. 26), which represents the first major spike in online spending activity during the season, ranked as the ninth heaviest day with $733 million.
The heaviest spending week during the season was the week ending Dec. 16, with $4.7 billion in online sales, followed by the week ending Dec. 9, which saw $4.6 billion. The week ending Nov. 18 showed the strongest growth rate (26 percent) versus the corresponding week in 2006, while the week ending Nov. 4 showed the softest growth (4 percent).
Video games, consoles and accessories was the fastest growing online retail category during for the season, jumping 129 percent versus the same period in 2006.
Furniture, appliances and equipment (up 67 percent), event tickets (up 24 percent) and consumer electronics (up 23 percent) also experienced above average growth.
After seeing substantial softness early in the season, online apparel sales picked up considerably in the latter part of the period, finishing up at 18 percent.
Meanwhile, sales of jewelry and watches declined marginally compared with 2006 as rising costs in precious metals may have dampened consumer demand.
Top 10 online spending days of the 2007 holiday season:
Monday, Dec. 10 (Green Monday): $881 million
Tuesday, Dec. 11: $819 million
Thursday, Dec. 6: $803 million
Wednesday, Dec. 5: $798 million
Tuesday, Dec. 4: $776 million
Wednesday, Dec. 12: $754 million
Monday, Dec. 3: $753 million
Friday, Dec. 7: $734 million
Monday, Nov. 26: (Cyber Monday): $733 million
Thursday, Nov. 29: $733 million
Heaviest online spending weeks of the 2007 holiday season:
Week ending Dec. 16: $4.7 billion
Week ending Dec. 9: $4.6 billion
Week ending Nov. 18: Strongest growth rate at 26 percent
Week ending Nov. 4: Softest growth rate at 4 percent
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