Online Holiday Spend Estimated To Hit $43.4 Billion: comScore

By Anu Passary | Nov 22, 2012 12:49 PM EST

Share This Story

  • Print
  • Email

With the holiday season knocking at the doorstep, the consumer market is expected to see a surge in sales and revenue and reports suggest that online retailers may just be among the biggest gainers. Per a comScore report, shopping spend via the Internet alone is estimated to generate $43.4 billion in November and December this year.

Follow us

According to the comScore report, the current retail e-commerce spending for the holiday season to-date (first 18 days of November) is $10.1 billion, which is a 16 percent increase from the same period in 2011. Additionally, Nov. 8 was the most lucrative online day of the season with consumers shelling out a mean $829 million.

"The strength leading up to and during the holiday season-to-date, in addition to a maximum 32 shopping days between Thanksgiving and Christmas, provide the basis for what we view as a fairly optimistic outlook for the 2012 online holiday shopping season," said comScore Chairman Gian Fulgoni in a statement. "This would put an exclamation point on what has already been a strong year for retail e-commerce."

If comScore's $43.4 billion forecast bears fruition, then it would mean that online spending has increased 17 percent from last year. The increase in online sales is seeing a steady growth as the 2011 figures were a 15 percent increase over 2010 sales. The emerging trend augurs well for e-commerce. What's more, this year's estimation is much higher than the industry's expectation of a 4.1 percent rise in consumer spend for this holiday season.

"Recent five-year highs in consumer confidence and early retailer promotions appear to be serving as wind in the sails for the beginning portion of the holiday season, with consumers opening up their wallets early and often," noted Fulgoni.

Fulgoni also opined that the growth in spend is reflective of the emerging trends and consumer preferences, indicating a shift to e-retailers. The driving factors for this shift to online retailers vis-à-vis brick and mortar stores could be due to convenience, attractive deals and pricing offers, as well as product selection.

Get the Most Popular Mobile&Apps Stories in a Weekly Newsletter

Join Our Conversation

The HTC logo is seen with different devices from the brand HTC M10 Perfume Launching A Month Later After MWC 2016
Lava Unleashes New P7 Device Into The Indian Market
New Disney Phone Coming To Japan
Xiaomi Locks Redmi Note 3, Mi 4c And Mi Note Pro; Others To Follow Suit?
Tablet / Laptop / PC
Dell Venue 7 and Venue 8 Dell unveils Venue 7 and Venue 8 Android 4.3 Jelly Bean tablets
Retina iPad Mini facing delays, may not launch until early next year
Refurbished 128GB iPad with Retina Display now available on the Apple Online Store
Samsung Galaxy Note 10.1 – 2014 Edition: Pricing and availability now official
Amazon Logo Amazon reportedly to launch ‘Firetube’ set-top box before 2013 holidays
Samsung Galaxy Note 3 and Galaxy Gear India launch: Pricing and availability
Samsung Galaxy Gear Android smartwatch now up for pre-order in Canada
Samsung Galaxy Gear 2 reportedly in the works already, may debut at CES or MWC 2014
OS / Software
HTC Logo HTC reportedly considering Android/Windows Phone dual-booting smartphone as Microsoft pushes for deeper Windows mobile integration
iOS 7 Chrome Incognito mode leaks private searches due to bug
Sprint HTC One Android 4.3 Jelly Bean already rolling out, AT&T, T-Mobile & Verizon to follow
Microsoft Windows 8.1 now available for pre-order
Internet / Social Media
Google Downtime Google blacks out for two minutes, causes 40 percent drop in world’s Internet traffic
Xbox Music web player is live and ready for Xbox Music Pass subscribers
Facebook Android app collected phone numbers even if users never logged in
Firefox 22 brings support for web video calls, 3D gaming, and Unreal Engine 3
What's App
ZTE's new lease program ZTE’s new Lease-to-own Program for Mobile Devices
LG’s G Pay to Take on Google, Samsung and Apple
Facebook: Taxes in the UK and a new Shopping tab
Samsung’s VR Headset to be Released at $99, Hulu Jumps Onboard with Apps Ready

Most Popular

© 2016 IBT Media Inc. All Rights Reserved.mobilenapps