Spending for the first 23 days of November was down four per cent on the same time last year. So far $8.2bn has been spent online, compared to $8.51bn last year.
“Despite the recent reprieve that plummeting gas prices have given American consumers, the depressed and volatile stock market, declining housing prices, inflation and the weak job market all represent dark clouds hanging over their heads this holiday shopping season,” said comScore chairman, Gian Fulgoni.
“With consumer confidence low and disposable income tight, the first weeks of November have been very disappointing, with online retail spending declining versus year ago. It’s also likely that some budget-conscious consumers are planning to wait to buy until later in the season to take advantage of retailers’ even more aggressive discounting.”
The company is predicting overall sales for Christmas will not grow but may not decline. Last year online sales grew 19 per cent on the previous year but sales this year have only grown nine per cent so far.
Online spending drops for the first time
By
Iain Thomson
on
Nov 26, 2008 3:34PM

Online monitoring company ComScore is reporting that spending online has dropped for the first time since records began.
Got a news tip for our journalists? Share it with us anonymously here.
Sponsored Whitepapers
Planning before the breach: You can’t protect what you can’t see
Beyond FTP: Securing and Managing File Transfers
NextGen Security Operations: A Roadmap for the Future

Video: Watch Juniper talk about its Aston Martin partnership
Don’t pay the ransom: A three-step guide to ransomware protection