In its second-largest acquisition, Amazon buys the company for $970 million.
Online retail spending for the week after Thanksgiving reached $4.06 billion, up 18% from the same week a year ago, comScore Networks reports. The heaviest spending day was the Monday after Thanksgiving, with $733 million in sales.
Online retail spending for the week after Thanksgiving reached $4.06 billion, up 18% from the corresponding week a year ago, comScore Networks Inc. reports. The heaviest spending day was the Monday after Thanksgiving, with $733 million in sales. Sales on Tuesday, Wednesday and Thursday also exceeded $700 million.
For November, online sales totaled $13.43 billion, up 18% over the $11.41 billion in November 2006, comScore reports.
Interestingly, even though a majority of Internet homes now have broadband access, consumers still conduct slightly more of their online shopping from work than from home, comScore reports. In November of this year, 45.5% of shopping took place from work vs. 44.1% from home. In November 2006, an equal amount took place at work-45.5%-while 42.3% occurred at home. Slightly fewer sales came from university locations-4.4% this year vs. 4% last year-while international sales dropped to 6% this year from 8.2% last year.
“Even though the vast majority of Internet-enabled homes now have high speed connections, shopping from work remains a key component of online holiday retail spending,” says comScore chairman Gian Fulgoni. “This suggests that the privacy afforded by shopping at work, without family members looking over one’s shoulder, is one of the important factors in determining where consumers choose to shop online. Also interesting is that despite the declining value of the U.S. dollar, the share of spending from international locations dropped versus last year. This would appear to indicate that maturing international e-commerce markets are succeeding in keeping more foreign online spending overseas.”
ComScore also reports:
• The fastest-growing retail sites last week compared to the corresponding week last year, among the 20 most frequently visited retail sites, were Yahoo Shopping, Target, Apple, Circuit City and Toys ‘R’ Us.
• Some of the popular gift categories experienced very strong growth last week compared to the rest of the market. Sales for video games, consoles and accessories were up 170% compared to a year ago; toys were up 36%, computer hardware was up 21%, and sports and fitness was up 19%.