Last Minute Shoppers Spending Like Mad Online

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moneymouth.jpgAre 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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