100 Billion Reasons to Celebrate this Year
comScore Networks reports that online retail spending reached $100 billion for the year as of Saturday, December 23. It looks like procrastinators placed their faith in expedited shipping, as the last business week before Christmas saw $2.25 billion in eCommerce.
2006 year-to-date spending was up by 26% over 2005, but the last week before Christmas increased 38% over the same period in 2005.
Gian Fulgoni, chairman of comScore Networks, stated in a press release:
Retail e-commerce now accounts for approximately 7 percent of consumersâ€™ U.S. retail spending (excluding gas, autos and food), making it an important component of the total U.S. economy.
From Nov. 1 to Dec. 26, Amazon.com had the highest online retail sales, followed by Dell, Yahoo, Walmart and Ticketmaster. The etailers with the highest percentage increase over last year were Best Buy, Walmart, Ticketmaster, Circuit City and Yahoo.
Althought Ticketmaster made both of those lists, event ticket sales “only” increased by 55% over last year’s holiday season. Categories that fared better were jewelry & watches (up 67%), video games (up 64%) and video game consoles (up 63%).
I hope those gifts got there on time. I know mine didn’t.
Next year, we’ll all start planning our holiday promos (and Christmas shopping) earlier.