US retail e-commerce spending for the entire November – December 2010 holiday season reached a record $32.6 billion, marking a 12% increase from $29 billion last year and an all-time record for the season, according to data from comScore. This 12% increase for the season, slightly outpaced comScore’s forecast of 11% growth.
comScore analysis indicates this year, retailers targeted many of their promotions even earlier than usual and reaped the benefits. In addition, comScore cites the positive impact of free shipping, which was used in more than half of all e-commerce transactions this season, up significantly from last year.
Cyber Monday Spending Passes $1B
For the first time since comScore began tracking e-commerce activity in 2001, Cyber Monday (Monday, Nov. 29) ranked as the heaviest online spending day of 2010 at almost $1.03 billion. It also registers as the first online spending day on record to surpass the $1 billion spending threshold.
Green Monday (Monday, Dec. 13) ranked as the second heaviest day at $954 million, followed by Monday, December 6 at $943 million. Free Shipping Day (Friday, Dec. 17) ranked fourth at $942 million, while Thursday, December 16 rounded out the top five with $930 million. Eight days in total surpassed $900 million in spending this holiday season.
Online Sales in Final Week More than $2B
For the final week of the 2010 holiday season (ending Sunday, January 2, 2011), comScore tracked more than $2 billion in online retail sales. This was the second-best week for online retail sales since 2005, with slightly higher sales in 2007.
Of the nine weeks in the 2010 holiday season, 2010 online retail sales results were the best since 2005 in the first seven. The highest-grossing online retail sales week was the seventh week (ending December 19, 2010), when total sales approached $6 billion.
Upper Income Shoppers Drive Late Xmas Spending
A boost in Christmas week spending by upper income shoppers helped create an overall increase in self-reported US consumer spending during the last two weeks of the Christmas season, according to a recent Gallup poll. Upper-income Americans’ self-reported consumer spending in stores, restaurants, gas stations, and online averaged $183 per day during the week ending Dec. 26, 2010. This figure is up about 45% from $126 during the same week in 2009.