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Online Holiday Spending Tops $18 Billion
Forget about Cyber Monday; December 6th easily topped the online sales of the Monday after Thanksgiving...
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12.31.07
Green Monday Biggest Online Spending Day
 By Mike Sachoff
Online Retail Sales Increased 19%
Early indications reveal that retailers had a small 2.4 percent sales growth this holiday season according to MasterCard SpendingPulse.
In contrast SpendingPulse figures showed that online sales had a 22 percent gain over the 2006 holiday shopping season. Backing that up comScore reported that online retail sales increased 19 percent over a year ago, reaching a record $26.2 billion from November 1 through December 21.
eMarketer estimated that online holiday sales would reach $31 billion this season, a slight decrease from last year's growth rate of 25 percent.
Jeffrey Grau, eMarketer senior analyst, predicted that, "while consumers have said they plan to spend less this year on holiday gifts, and that may signal trouble for store retail sales, it could benefit Web retailers." His prediction was correct.
Cyber Monday was not the busiest online shopping day as it has been in the past. "Green Monday, Dec. 10, will reign as the heaviest individual spending day of the season with $881 million in sales," said comScore Chairman Gian Fulgoni.
"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 in sales."
About the Author:
Mike is a staff writer for WebProNews.
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