Executive Briefings

The News Is In: Holiday Spending Was Up, Especially for Online Sales of Electronics

More customers chose to point and click rather than park and swipe this Christmas season, with a five percent increase in online shopping over the same period last year, a study by the Internet marketing firm comScore says. By comparison, in-store retail shopping grew only 3.6 percent, according to credit-card spending tracked by MasterCard Advisor's' Spending Pulse.

"Overall this year, we have seen increasing stability in spending, as opposed to the free fall of 2008," noted Michael McNamara, vice president of research and analysis for SpendingPulse.

A significant share of the online boost was in electronics sales, which grew by slightly more than 20 percent, with jewelry and watches also producing solid sales. Overall, an estimated $27bn was spent online. 

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More customers chose to point and click rather than park and swipe this Christmas season, with a five percent increase in online shopping over the same period last year, a study by the Internet marketing firm comScore says. By comparison, in-store retail shopping grew only 3.6 percent, according to credit-card spending tracked by MasterCard Advisor's' Spending Pulse.

"Overall this year, we have seen increasing stability in spending, as opposed to the free fall of 2008," noted Michael McNamara, vice president of research and analysis for SpendingPulse.

A significant share of the online boost was in electronics sales, which grew by slightly more than 20 percent, with jewelry and watches also producing solid sales. Overall, an estimated $27bn was spent online. 

Read Full Article