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E-Commerce Spending Jumps 15 Percent on Cyber Monday to $846 Million, the Second Heaviest Online Spending Day on Record
Wednesday, December 03, 2008
Eclipsed Only by Green Monday 2007 with $881 Million in Online Spending
RESTON, Va., Dec. 3 /PRNewswire-FirstCall/ -- comScore (Nasdaq: SCOR), a
leader in measuring the digital world, today reported its tracking of holiday
season retail e-commerce spending for the first 31 days of the November -
December 2008 holiday season. For the holiday season-to-date, $12.03 billion
has been spent online, marking a 2 percent decline versus the corresponding
days last year. However, Cyber Monday saw $846 million in online spending, up
15 percent. The four-day period from Black Friday through Cyber Monday saw
e-commerce spending jump 13 percent as both weekend days and Monday all
achieved double-digit gains.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)
2008 Holiday Season To Date vs. Corresponding Days* in 2007
Non-Travel (Retail) Spending
Excludes Auctions and Large Corporate Purchases
Total U.S. - Home/Work/University Locations
Source: comScore, Inc.
Millions ($)
Pct
Holiday Season to Date 2007 2008 Change
November 1 - December 1 $12,217 $12,025 -2%
Pre-Thanksgiving $10,035 $9,588 -4%
Thanksgiving and Later $2,182 $2,437 12%
November 27 (Thanksgiving Day) $272 $288 6%
November 28 ("Black Friday") $531 $534 1%
November 29-30 (Weekend) $645 $769 19%
December 1 ("Cyber Monday") $733 $846 15%
* Corresponding days based on equivalent shopping days relative to
Thanksgiving (October 27 - November 26, 2007)
"Mark Twain might have said: 'Rumors of the death of online holiday
shopping have been greatly exaggerated,'" said comScore chairman Gian Fulgoni.
"Consumers are clearly responding positively to retailers' aggressive online
discounts. With Cyber Monday promotions beginning in earnest over the
Thanksgiving weekend, consumers have finally begun to open their wallets,
setting off a streak of four consecutive days of extremely strong growth, and
culminating in a Cyber Monday that racked up an impressive $846 million in
online spending, up 15 percent over last year and ranking it as the second
heaviest online spending day on record. This is an extremely encouraging
development for retailers and we can but hope that their aggressive
discounting has still left room for profits."
Consumers Seeing Less Foot Traffic in Retail Stores
The most recent comScore holiday retail survey, conducted from November 28
- December 1, revealed that some additional insights into consumers' views of
the 2008 holiday shopping season.
Some of the key survey findings include:
-- More than half (51 percent) of consumers indicated that the level of
promotions and discounts is higher this year than last year, while only 12
percent said that there appeared to be fewer, suggesting that retailers are
having to be more aggressive in discounting to spur consumer spending.
-- 39 percent of consumers said that there seemed to be fewer people out
shopping in retail stores this year than last year, while only 7 percent
thought there were more.
Weekly Online Holiday Retail Sales
(Photo: http://www.newscom.com/cgi-bin/prnh/20081203/AQW532)
Members of the media interested in receiving the data behind the above
chart for use in a graphical representation, please contact press@comscore.com
comScore 2008 Holiday Online Retail Spending Forecast
Online Non-Travel (Retail) Holiday Consumer Spending
Excludes Auctions and Large Corporate Purchases
Total U.S. - Home/Work/University Locations
Source: comScore, Inc.
Billions ($)
Pct
2007 2008 Change
January - October Actual $93.6 $102.1 9%
Holiday Season Forecast (Nov-Dec) $29.2* $29.2** 0%**
* Actual **Forecast
About comScore
comScore, Inc. (Nasdaq: SCOR) is a global leader in measuring the digital
world and preferred source of digital marketing intelligence. For more
information, please visit http://www.comscore.com/boilerplate.
SOURCE comScore, Inc.
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