Technology content trusted in North America and globally since 1999
8,525 Reviews & Articles | 65,914 News Posts

Online holiday spending estimated to reach $43.4 billion this year

Online holiday shopping to be huge this year, estimated to reach $43.4 billion

By: Anthony Garreffa from Nov 22, 2012 @ 2:35 CST

According to comScore's latest estimates, consumers are to spend $43.4 billion on web-based shopping during November and December. This would mark an increase of 17% year-over-year for the same two-month period of 2011.

online_holiday_spending_estimated_to_reach_43_4_billion_this_year_06

2011's online spending was around 15% higher than it was in 2010, showing that it has increased year-on-year for a while now. This year's forecast is actually much higher than the industry's overall retail expectation, which expects a 4.1% rise in consumer spending during the 2012 holiday season.

Considering the US going through a huge recession, natural disasters, and a very uncertain economic future, consumers shopping online has actually increased. ComScore chairman, Gian Fulgoni, has said that if the estimates are true, it would be a great finale to a great year for retail e-commerce. Fulgoni has an optimistic outlook on the season based on the strong lead-up to the 32 shopping days between Thanksgiving and Christmas.

NEWS SOURCES:techspot.com