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U.S. Online Holiday Spending Approaches $27 Billion for First 37 Days of the November-December Shopping Season, up 13 Percent vs. Last Year
Dec 09, 2012 (03:12 PM EST)
Green Monday (Dec. 10) Expected to Headline What Could be the Heaviest Online Spending Week in History
RESTON, Va., Dec. 9, 2012 /PRNewswire/ -- comScore (NASDAQ: SCOR), a leader in measuring the digital world, today reported holiday season retail e-commerce spending for the first 37 days of the November–December 2012 holiday season. For the holiday season-to-date $26.6 billion has been spent online, marking a 13-percent increase versus the corresponding days last year. The most recent week saw three individual days eclipse $1 billion in spending – Monday, Dec. 3 ($1.117 billion), Tuesday, Dec. 4 ($1.362 billion) and Wednesday, Dec. 5 ($1.051 billion) – bringing the total number of billion dollar spending days for the season to seven.
"Despite posting three consecutive billion-dollar spending days and five in excess of $950 million, this past week saw a noticeable softening in e-commerce momentum as growth rates dipped into single-digits after beginning the season in the mid-teens," said comScore chairman Gian Fulgoni. "However, we expect this lull to be a temporary effect having more to do with the extended shopping calendar this year with two additional shopping days between Thanksgiving and Christmas, rather than weakening consumer fundamentals. This upcoming week led by Green Monday is likely to be the heaviest online spending week in history with a realistic chance of delivering five billion-dollar days."
Green Monday Remains Important Day, But Eclipsed by Cyber Monday in Recent Years
Green Monday (Monday, December 10, 2012) this year is likely to be one of the heaviest online spending days of the season and a headliner for what is expected to the busiest online spending week on record. While Green Monday has seen online spending levels double over the past six years to more than $1.1 billion last year, the day has actually become slightly less important to the season overall. Once the heaviest day of the online shopping season, Green Monday has not assumed the top position since 2007.
"Green Monday got its moniker several years ago because of the widely held misconception at the time that Cyber Monday was the heaviest online shopping day of the season, when in reality it was lucky to crack the top ten. Green Monday came to refer to that Monday near mid-December when online spending actually tended to peak as consumers hurried to finish their online shopping in time for shipments to arrive before Christmas," added Mr. Fulgoni. "While we still see that steady build in spending continuing into mid-December, Cyber Monday's intense promotional activity has vaulted it into the top spot in recent years while Green Monday has had to settle for a spot in the top three. Still, it should be a very active online shopping day that will post a strong total when all is said and done."
comScore, Inc. (NASDAQ: SCOR) is a global leader in measuring the digital world and preferred source of digital business analytics. For more information, please visit www.comscore.com/companyinfo.
SOURCE comScore, Inc.