Latest
 
  • All Share : 50727.22
    DOWN -0.25%
    Top 40 : 3760.54
    DOWN -1.59%
    Financial 15 : 15681.37
    UP 0.02%
    Industrial 25 : 61980.20
    UP 0.43%

  • ZAR/USD : 11.0218
    UP 0.07%
    ZAR/GBP : 17.2951
    UP 0.05%
    ZAR/EUR : 13.7005
    UP 0.06%
    ZAR/JPY : 0.0932
    UP 0.16%
    ZAR/AUD : 9.4887
    UP 0.17%

  • Gold : 1198.1500
    UP 0.10%
    Platinum : 1212.5000
    UP 0.71%
    Silver : 16.5150
    UP 0.21%
    Palladium : 794.5000
    UP 0.70%
    Brent Crude Oil : 79.680
    UNCHANGED0.00%

  • All data is delayed by 15 min. Data supplied by I-Net Bridge
    Hover cursor over this ticker to pause.

Tue Nov 25 02:34:54 SAST 2014

Online holiday sales grow 17% in the US

AFP Relaxnews | 22 November, 2012 13:37

US online holiday sales are already on the rise, and are expected to grow 17% from last year to $43.4 billion, a new forecast said Wednesday.

The report from the research firm comScore showed retail e-commerce spending for the first 18 days of November-December holiday season were up 16% to $10.1 billion.

November 8 has been the heaviest online spending day of the season to date at $829 million, comScore said.

"The 2012 online holiday shopping season is off to an encouraging start with a 16% growth thus far," said comScore chairman Gian Fulgoni.

"Recent five-year highs in consumer confidence and early retailer promotions appear to be serving as wind in the sails for the beginning portion of the holiday season, with consumers opening up their wallets early and often."

The comScore forecast of a 17% gain would outpace last season's 15 percent increase and would be well ahead of the retail industry's expectation for a 4.1% increase in consumers' overall spending this holiday season.

"The strength leading up to and during the holiday season-to-date, in addition to a maximum 32 shopping days between Thanksgiving and Christmas, provide the basis for what we view as a fairly optimistic outlook for the 2012 online holiday shopping season," said Fulgoni.

US government data showed ecommerce sales for the third quarter from August-September rose 3.7% to $57 billion, and accounted for some 5.2% of all retail sales.

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.