Luxe Insider

Dec. 6th, 2010

Online Shopping is Up Since 2007

Ecommerce: Researcher ComScore Inc. is predicting that ecommerce sales on Cyber Monday, the Monday after Thanksgiving weekend, will increase E-commerce sales in November and December by 11 percent, to $32.4 billion.

U.S. Commerce Department figures showed that as the economy recovers from the recession and adds jobs, consumers are beginning to return to buying. Retailers entice consumers with free shipping and half-off deals are also helping to increase spending over the start of the online holiday shopping season.

"The beginning of the online holiday shopping season has gotten off to an extremely positive start, outperforming our earlier expectations," ComScore Chairman Gian Fulgoni said in a statement. "While this early spending surge reflects, in part, heavy promotional activity on the part of retailers occurring earlier this season, it is nevertheless a very encouraging sign."

Retailers count on sales made during November and December as 20 percent of their annual profit, more and more of which is coming from online sales as consumers skip stores and buy online.

Source: Bloomberg
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