Online Retail Spending Reaches $20 Billion

More than $20 billion has been spent online during the first 41 days of the holiday season (Nov. 1 – Dec. 11), a 19-percent increase versus the corresponding days last year, according to comScore, Inc.

“Green Monday,” a term coined by eBay to describe the second Monday in December as the heaviest online spending day of the season, may well live up to its billing as U.S. online retail spending on December 10 reached $881 million (up 33 percent versus last year), setting a record as the heaviest online spending day in history, according to the Reston, Va.-based company which measures digital data.

“Online spending is following the pattern it first established last year, namely an accelerating growth rate as the season progresses,” said comScore chairman Gian Fulgoni. “Consumers are clearly responding positively to the enticing promotions and discounts being offered by retailers this year, and spending is currently on track to meet our forecast of $29.5 billion for the season.”

So far, three individual shopping days have surpassed $800 million in sales. They are:

Monday, Dec. 10 (“Green Monday”), $880.8
Tuesday, Dec. 11, $818.6
Thursday, Dec. 6, $802.6
Wednesday, Dec. 5, $797.7
Tuesday, Dec. 4, $776.2