Last Minute Shoppers Spending Like Mad Online
Are you one of those holiday shopping procrastinators? If so, you’re certainly not alone. According comScore, Inc. online spending was booming last week. Retailers experienced a whopping 25% increase in sales versus a year ago. Overall, it’s been a good year for online retailers with more than $26 billion spent online during the first 51 days of the 2007 holiday shopping season (November 1 – December 21). This represents a 19% increase versus the same corresponding days in 2006.
Late-season shipping deals and consumers’ ability to buy online and pick-up their purchase the same day at the retail store are also contributing factors to last week’s online sales gains. In addition, many consumers delayed their holiday shopping to later in the season this year in order to take advantage of late-season price discounts being offered by retailers.
Here’s how the heaviest online spending days of the season stacked up over last year:
2006 2007 % Change
Thanksgiving (November 22) $0.21B $0.27B 29%
“Black Friday” (November 23) $0.43B $0.53B 22%
“Cyber Monday” (November 26) $0.61B $0.73B 21%
“Green Monday” (December 10) $0.66B $0.88B 33%
Total November 1–December 21 $22.04B $26.29B 19%
Note: Dollars are in billions.
“Green Monday” was crowned the heaviest shopping day of 2007 with $881 million in sales. The top ten online spending days of the 2007 holiday season are:
Day Dollars Spent ($ Millions)
Monday, December 10 (“Green Monday”) $881
Tuesday, December 11 $819
Thursday, December 6 $803
Wednesday, December 5 $798
Tuesday, December 4 $776
Wednesday, December 12 $754
Monday, December 3 $753
Friday, December 7 $734
Monday, November 26 “Cyber Monday” $733
Thursday, December 29 $733
Source: comScore 2007 Retail E-Commerce Forecast
Needless to say, it’s been a busy year not only for online retailers but also for the overnight shipping companies.
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