comScore: Online Holiday Spending Hit $40 Billion

During this past holiday season, consumers had spent $42.3 billion online.  This is the first time that holiday spending ever surpassed $40 billion according to comScore’s shopping data.  Online sales grew around 14% from the previous holiday season’s total of $37.2 billion.  However total sales was a little bit short of comScore’s 16% growth forecast of $43.4 billion.

“That is obivously a nice growth rate, certainly when you compare it to offline channels,” stated comScore VP of industry analysis Andrew Lipsman in an interview with Mashable. “But it did fall a little bit short of expectations, which is probably consistent with reports that retail ended up soft this year.”  comScore based their data on a panel of around 1 million U.S. Internet users.

Lipsman believed that the sales were lower than expected because of talks of a fiscal cliff.  Consumers feared that their take-home pay this coming year would drop.  Cyber Monday was the largest online sales day of the holiday season with around $1.5 billion in sales, which is 17% higher than the year before.  On Green Monday (December 10th), consumers spent around $1.3 billion.

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