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Online shopping is up 13 percent to $33.8 billion in the first 44 days of the holiday shopping season, according to market researcher comScore.
The fast growth of online shopping has been consistent for years now, as electronic commerce steals market share from physical retail stores, which typically grow sales at single-digit rates, if at all, during the holidays. The most recent work week saw four individual days eclipse $1 billion in U.S. online spending.
December 8, known as Green Monday, saw a 13 percent sales increase to $1.275 billion, up from $1.133 billion a year ago. The biggest sales day so far was Cyber Monday ($1.465 billion), or Nov. 26, the first weekday following Black Friday (Nov. 23) sales. Cyber Monday is when online retailers give big discounts to spur sales.
“This past workweek saw four days surpass the billion dollar spending threshold during the heaviest five-day online shopping period on record,” said comScore chairman Gian Fulgoni, in a statement. “With this most recent week in the books, the peak spending period may now be in our rear-view-mirror – but the online holiday shopping season is not over yet. We should have one more headline day on Free Shipping Day this Monday the 17th as the procrastinators among us scramble to order gifts in time for Christmas next week. For the season-to-date, the growth rate based on corresponding days last year is 13 percent. But, with two extra shopping days between Thanksgiving and Christmas this year, we still expect that the full season will realize a growth rate well north of 13 percent.”
So far this season, 11 individual days have surpassed $1 billion in online retail sales, compared to 10 days altogether in the season a year ago.