December 11, 2003, 12:00 AM

Weekly e-retail sales cross $2 billion for first time, comScore reports

Online retail spending last week reached $2 billion, 26% higher than the $1.6 billion in the corresponding week a year ago, comScore Networks Inc. reports, and the first time that weekly online sales exceeded $2 billion.

 

Online retail spending last week reached $2 billion, 26% higher than the $1.6 billion in the corresponding week a year ago, comScore Networks Inc. reports. It’s the eighth consecutive week of 20% year-over-year growth, comScore says. By contrast, total retail sales last week fell 3.3% from a year ago as a result of the snowstorm in the East, reports ShopperTrak’s National Retail Sales Estimate.

The snowstorm was beneficial to online sales, comScore says, reporting that retail sales were up 40% on Saturday and Sunday vs. the same weekend a year ago.

Since the beginning of November, which comScore counts as the start of the holiday shopping season, consumers have spent $7.3 billion in online retail shopping, 29% higher than a year ago. ComScore is projecting total November and December online sales of $12.1 billion to $12.6 billion, a 25-30% increase over a year ago.

 

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