Holiday Season Online Spending Continues to Grow at Record Breaking Pace
By JCK Online Staff -- JCK Online, 12/12/2006 11:07:00 AM
During the first 38 days of the holiday season, total online retail spending reached $15.6 billion, marking a 25 percent increase versus the corresponding days in 2005, according to comScore Networks. However, the busiest time is yet to come.
"Online consumer spending growth continues to beat expectations," said Gian Fulgoni, chairman of comScore Networks. "This year we’ve already seen seven days eclipse $600 million in spending. In fact, each of the five days in the most recent work week (Dec. 4 – Dec, 8) exceeded $610 million. We expect that the heaviest day of this holiday season will occur during the week of December 11, with sales that should approach $700 million."
Despite the first mover advantage held by online-only retailers, an analysis of sales by retailer for the 2006 holiday season through Dec. 8 reveals the current strength of multi-channel retailers, the Reston, Va.-based company said.
While Amazon ranks first in online sales this season, only three of the ten largest online retailers are "pure-plays." Retailers with bricks and mortar stores take seven of the top ten spots. Among the sites with the highest online sales, some are generating growth rates in excess of 50 percent. Best Buy ranks highest in sales growth, followed by Ticketmaster, Wal-Mart, Circuit City, and Victoria’s Secret, revealing the strength of the multi-channel retailers.
