January 10, 2005, 12:00 AM

Online retail holiday spending rises 29% year-over-year, comScore reports

Online spending grew faster than expected during the 2004 holiday shopping season, rising 29% over 2003 to $15.8 billion, comScore Networks reports. Full-year online spending rose 26% to $66.5 billion.

Online spending grew faster than expected during the 2004 holiday shopping season in the combined months of November and December, rising 29% over the same period in 2003 to $15.8 billion from $12.3 billion, comScore Networks Inc. reports. Full-year 2004 online spending rose 26% to $66.5 billion from $52.9 billion in 2003.

By comparison, total retail spending in the combined months of November and December rose 1.7% over the same period in 2003, according to a preliminary estimate by ShopperTrak.

Online travel spending for the combined November-December 2004 period rose 28% year-over-year, to $7.8 billion, comScore reports. Full-year 2004 online travel spending rose 26% year-over-year, to $50.9 billion.

Multi-channel retailers led in holiday 2004 spending, comScore says. In a mid-holiday season analysis it conducted of 25 multi-channel retailers, it found that they posted an aggregate year-over-year sales growth rate of about twice that of online retail as a whole. “While it’s clear that a broad range of online merchants saw a strong season, multi-channel retailers were standouts,” says Dan Hess, senior vice president of industry analysis. “Many of the nation’s leading retail brands flexed their muscle this season, with strategies including faster delivery options, significant redesigns and effective cross-channel promotions.”

 

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