Online Holiday Sales Still Slightly Behind Last Year

Online retail sales this holiday season is still faring well, considering the economic situation. E-commerce sales in the U.S. reached $24.71 billion, down just one percent versus the corresponding shopping days last year, online tracking firm comScore reported.

Online spending over the December 20-21 weekend totaled $677 million, a 17 percent decrease compared to the corresponding fourth weekend after Thanksgiving last year (December 16-17, 2007). However, when a comparison is made to the weekend nearest Christmas last year, spending this past weekend is seen to be nearly twice as high.

Data about online jewelry purchases during the past week was not made available, however according to indications, they are still lagging behind the holiday season of 2007. This is explained by two trends seen this year - a decrease in gift buying spend and a shift away from buying on credit.

“Because of the way the shopping days fall this year with five fewer days between Thanksgiving and Christmas, there is no perfect adjusted-day comparison to make at this point in the season,” said comScore chairman Gian Fulgoni.

“However, online spending over the most recent weekend was clearly substantially heavier than the corresponding weekend nearest Christmas last year, which suggests that many consumers opted for the cozier confines of online shopping rather than having to brave the severe cold and snowstorms affecting much of the northern half of the country.

“It’s also clear that this year’s compressed shopping season has resulted in some consumers buying online later than they did a year ago. A positive late-season boost for online retail perhaps, but it’s ultimately not going to do much to make up for the significantly shorter shopping season this year,” Fulgoni added.