More Money Spent Online this Year Over Last: Study
For the first 33 days of the November to December holiday season this year, a total of US$16.8 million was spent online, according to a comScore study. This amount is a 12% increase over the corresponding days last year.
Cyber Monday became the heaviest online spending day on record, bringing in a total of US$1 billion. Black Friday, on the other hand, brought in US$648 million. Both figures are higher than the ones witnessed in 2009.
However, growth slowed to “single-digit levels” after Cyber Monday, said comScore chairman Gian Fulgoni in a statement.
“We believe this softening is attributable to retailers’ heavy discounting and promotional activity during the earlier part of the holiday season, which pulled some consumer demand forward, resulting a mild hangover effect in the days immediately following Cyber Monday,” Fulgoni said.
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