Online Spending Nears $27B For 2012 Season
Online spending has hit $26.6 billion to date for the 2012 holiday season, according to new data from comScore released on Monday.
Spending is up 13% for the first 37 days of the November-December, compared with the same period last year. The week of Dec. 1-7 had three days that passed $1 billion: Monday, Dec. 3 ($1.117 billion), Tuesday, Dec. 4 ($1.362 billion) and Wednesday, Dec. 5 ($1.051 billion). So far this season, seven days have hit the $1 billion spending mark.
“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,” comScore chairman Gian Fulgoni said in a statement.
Fugloni expects this week, led by “Green Monday” — typically the best sales day in December, usually the month’s second Monday — to be the heaviest online spending week in history, with the possibility of delivering five billion-dollar days
While Green Monday spending levels have doubled over the past six years, the day’s importance has slipped somewhat in the past few years, comScore said. “Once the heaviest day of the online shopping season, Green Monday has not assumed the top position since 2007,” the research company said.
“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,” Fulgoni said. “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.”