Reston, Va. -- For the first 20 days of November, comScore reported that online spending rose 14% to $9.7 billion. The company forecast that online sales for the full November through December period would increase 15% to a total of $37.6 billion.
"The 2011 online holiday shopping season has shown strength in the early going with a year-over-year growth rate of 14%," said comScore chairman, Gian Fulgoni. "With the persistent backdrop of macroeconomic uncertainty and continued high unemployment, consumers appear to be increasingly favoring the online benefits of convenience and lower prices. Based on the expectation that these positive spending trends will continue for the season, this year promises to be a Merry Christmas indeed for online retailers."
The official comScore 2011 holiday season forecast is that online retail spending for the November – December period will reach $37.6 billion, representing a 15% gain versus year ago. This represents an improvement compared to last season's 12% increase.
"Due to the strength leading up to and during the holiday season-to-date, comScore's statistical models are forecasting that U.S. retail e-commerce spending will grow at a rate of 15 percent versus last year," added Fulgoni. "These projected growth rates reflect the significant channel shift we're witnessing from offline retail as an increasing number of consumers rely on the online channel for initial browsing, price comparisons and completing transactions. With this continued momentum, comScore anticipates nearly $38 billion in online consumer spending during the November and December time period."