A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
Online consumer retail spending reached $1.15 billion for the week ending Oct. 26, reports comScore Networks.
Online consumer retail spending grew 41% for the week ending Oct. 26, reaching $1.15 billion from $813 million for the same week a year ago, reports comScore Networks Inc.’s Media Metrix division.
Total retail spending for the week ending Oct. 25 was up 1.9%, reports ShopperTrak’s National Retail Sales Estimate. The increase marked the 26th consecutive week of year-over-year growth, but it was well below the year-to-date average of 3.5%. ShopperTrak noted that each of the last three weeks has been the weakest year-over-year growth since June. ShopperTrak says the slowdown may actually bode well for the Christmas shopping season “as consumers build up their savings head of holiday spending.”
Online travel spending was up 33% for the week, reaching $761 million from $574 million a year ago, comScore reports.