PR Newswire -- "comScore, a leader in measuring the digital world, today reported holiday season retail e-commerce spending for the first 21 days of the November – December 2010 holiday season, as well as its official spending forecast for the season. For the holiday season-to-date, $9.01 billion has been spent online, marking a 13% increase versus the corresponding days last year (see chart)."
"The beginning of the online holiday shopping season has gotten off to an extremely positive start, outperforming our earlier expectations," said comScore chairman, Gian Fulgoni. "Despite continued high unemployment rates and other economic concerns, consumers seem to be more willing to open up their wallets this holiday season than last. While this early spending surge reflects, in part, heavy promotional activity on the part of retailers occurring earlier this season, it is nevertheless a very encouraging sign."
The official comScore 2009 holiday season forecast is that online retail spending for the November – December period will reach $32.4 billion, representing an 11% gain versus year ago. This strong growth rate represents an improvement compared to last season's 4% increase.
"After a year in which we already saw growth rates return to solid positive territory, the recent strength in holiday spending has led us to raise our official forecast to 11 percent from the 7 to 9 percent we were initially expecting," added Fulgoni. "We are seeing online spending surpass the totals we saw in 2007 prior to the recession and expect sales this holiday season to be the highest on record with more than $32 billion being spent during the November and December period."