Tue, Dec 06, 2011 - Page 10 News List

US online sales a record $6 billion in week after holiday

HEY, BIG SPENDER:Cyber Monday sales were about US$1.25 billion, the highest online shopping day ever, as free shipping appeared to be enticing shoppers

AP, NEW YORK

US shoppers are still spending heavily online after a record-busting “Cyber Monday,” research firm comScore Inc said on Sunday.

The firm, which tracks Web use, found shoppers spent nearly US$6 billion online between Nov. 28 and Friday — a record.

On Cyber Monday itself, sales reached US$1.25 billion, the biggest online shopping day in history. Online sales last Tuesday and on Wednesday also broke US$1 billion.

Cyber Monday sales topped US$1 billion for the first time last year.

ComScore says online sales were up 15 percent to US$18.7 billion last month and the first two days of this month compared with the same period last year.

The holiday shopping season can make up to 40 percent of retailers’ annual revenues. This year’s holiday shopping has risen with help from discounting and promotions.

Free shipping also appears to be a big draw, applying to 63 percent of sales, up from 52 percent a year ago.

“Consumers have come to expect free shipping during the holiday promotion periods and retailers, in turn, have realized that they must offer this incentive,” comScore chairman Gian Fulgoni said in a statement.

Online shopping accounts for between 8 percent and 10 percent of overall holiday spending, by various estimates. ComScore’s spending figures exclude travel, auctions and large corporate purchases.

Spending on items including clothing, general merchandise, toys and electronics and in department stores, rose 4.7 percent to US$125 billion in the Oct. 30 to Nov. 26 period, according to MasterCard Advisor’s SpendingPulse. That includes online buying and spending in physical stores.

This story has been viewed 2165 times.
TOP top