FINANCE

comScore report: Green Monday spending jumps 13% to $1.275 billion

BY Katherine Boccaccio

Reston, Va. — In a report released Wednesday by comScore, Green Monday has emerged as the third heaviest online shopping day of the holiday season to date, reaching $1.275 billion in spending.

Just ahead of Green Monday are Cyber Monday at $1.465 billion and Tuesday, Dec. 4, at $1.362 billion.

For the holiday season to-date, $29.3 billion has been spent online.

"Green Monday kicked off this critical week for online holiday shopping with a strong total of $1.275 billion, marking a 13% gain from last year," said comScore chairman Gian Fulgoni. "While Green Monday remains a very important day for the season, as consumers have gained confidence with on-time shipment delivery, there is perhaps less urgency than there once was to make those final purchases at least two weeks in advance of Christmas Day. What we’ve seen over the past few years is a tendency for heavy spending to continue late into the week of Green Monday and right up until Free Shipping Day, which this year falls on December 17."

An analysis of Green Monday spending demonstrates how various components contributed to the 13% growth rate, according to comScore. Spending growth was driven by both an increase in the number of buyers (up 7% to 9 million) and an increase in spending per buyer (up 6% to $140.95). The gain in spending per buyer primarily reflected an increase in the number of transactions per buyer (up 5% to 1.76) rather than an increase in the dollar value of a transaction, which was up only 2% to $80.11.

The survey found that the top-gaining category for the season-to-date is Digital Content & Subscriptions, predominantly comprised of digital book, music and video downloads, which has grown 22% versus a year ago. Toys ranks second with a growth rate of 18%, followed by Video Game Consoles & Accessories (up 15%). Consumer Electronics currently ranks fourth (up 15%) on the strength of smartphone sales, while Computer Hardware rounds out the top five (up 14%) on the strength of tablet sales.

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FINANCE

Wal-Mart CEO: ‘Fiscal Cliff’ talk hurting holiday spending

BY Katherine Boccaccio

New York — In a Tuesday night address at the Council on Foreign Relations in New York City, Wal-Mart Stores Inc. president and CEO Mike Duke didn’t shy away from discussing the fiscal cliff, saying that the current debate is having a negative impact on consumer spending.

"A week before the election, only 25% of our core customers even knew what fiscal cliff meant," Duke said. "One week after the election, it was up to 75%. Now, [among] these same customers, 15% are telling us this discussion about the fiscal cliff will affect what they spend on Christmas."

Duke described Walmart customers’ economic and financial conditions as "fragile." He said he shared his customers’ thoughts with President Barack Obama a week after the election, and since the president was interested in hearing more about how Wal-Mart shoppers were feeling, he has continued to share this polling data with the administration.

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OPERATIONS

Chase: Green Monday top-five shopping day so far

BY Katherine Boccaccio

New York — The Chase Holiday Pulse on Wednesday revealed that Green Monday, Dec. 10, sales showed a 10.7% year-over-year increase over Green Monday (Dec. 12) in 2011, mainly driven by merchant deals and discounts on popular gift items.

Overall sales volume for the week commencing December 3rd grew 7.1% compared with season-to-date growth of 12.2% year-over-year. For transactions, volume for the period increased by 9.3% compared with a season-to-date growth of 22.5%. Mass Market and Home categories showed a year-over-year increase of 22.9% and 14.8% respectively for the same period.

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M.Strom says:
Dec-13-2012 01:44 pm

Green Monday
Green Monday no longer holds the title for generating the most green in terms of online sales. Green Monday will also cross the $1 billion threshold. Bankruptcy is unlikely :)

M.Strom says:
Dec-13-2012 01:44 pm

Green Monday no longer holds the title for generating the most green in terms of online sales. Green Monday will also cross the $1 billion threshold. Bankruptcy is unlikely :)

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