Online retail sales have perked up early this month, and comScore Inc. is now projecting 3% growth for online holiday sales.
The web measurement firm reported online sales were up 2.2% compared to last year in the first 22 days of November, after being down for the first 10 months of the year. And the SpendingPulse report from MasterCard was even more positive, indicating a 19.4% increase in retail web sales in the first two weeks of the month.
The comScore data for Nov. 1-22 shows sales totaled $8.21 billion compared to $8.03 billion in the same period a year ago. ComScore bases its comparison on equivalent shopping days prior to Thanksgiving, that is, Nov. 2 to Nov. 23, 2008.
ComScore is now predicting U.S. online retail spending in November and December will reach $28.8 billion, up 3% from a year ago. The firm previously had said it expected online sales would increase from 0-5%. From January to October online spending is $102.1 billion, down 1.4% from $100.7 billion a year ago, comScore says.
“The beginning of the online holiday shopping season has gotten off to a positive start, which is a nice improvement over the slightly negative growth rates we’ve experienced through much of 2009,” said ComScore chairman Gian Fulgoni. “Nonetheless, online spending this holiday season will likely be tempered by the stark reality of 10% unemployment and less disposable income in many consumers’ wallets.”
ComScore also reports that its weekly survey of 500 consumers, which it conducted between Nov. 20 and Nov. 23, shows that 34% of consumers have not even started their holiday shopping. The survey also found that 73% of consumers say that free shipping is an important consideration when making a purchase this holiday season.
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