E-tailers reap $28bn festive bonanza

Online shoppers will have spent around $30bn between 1 November and the end of 2006

Nearly $28bn was spent online during the festive season to 27 December 2007, marking a 19 per cent gain over the corresponding period in 2006.

Figures from market research firm comScore suggest that online spending between Thanksgiving and Christmas grew an impressive 21 per cent on 2006.

"Even as the holiday shopping season winds down after Christmas, we continue to see some relatively strong online spending days," said Gian Fulgoni, chairman of comScore.

"The day after Christmas saw online sales of $545m, more than double that of the same day last year."

This would appear to indicate that consumers were willing and able to take advantage of attractive late-season promotions and price discounts offered by retailers.

However, warm weather during early November took its toll on online retail sales, according to comScore.

Growth in spending over the entire holiday season was limited to 19 per cent, compared with last year's rise of 26 per cent.

"Spending between Thanksgiving and Christmas grew at a healthier 21 per cent, which is encouraging given the economic challenges this year as a result of higher gas prices, lower home values and a jittery stock market," said Fulgoni.

Extrapolating from these figures comScore reckons that online shoppers will have spent around $30bn between 1 November and the end of 2006, up 20 per cent on 2006.