By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Reston, Va. – Online sales for November through Dec. 16 are up 13 percent year-over-year, to some $35 billion, ComScore reported.
What’s more, online spending for the week of Dec. 10-16 was the highest on record, breaking the $7 billion mark with a 12 percent increase, the market research firm said.
Still, online sales growth remains below expectations, ComScore chairman Gian Fulgoni said, following a prolonged Cyber Monday lull. “This current week, which kicked off with Free Shipping Day on Monday (Dec. 17th), will be critical in making up some ground on a season-to-date growth rate that remains below initial expectations at 13 percent,” he noted. “With many retailers extending their free shipping offers into Tuesday and Wednesday of this week, we just may see the sort of late-season jolt needed to push growth rates back into the mid-teens.”
Neverthless, online sales growth is far outpacing that of brick-and-mortar stores. Foot traffic and sales for the week ending Dec. 15 declined 4.4 percent and 4.3 percent, respectively, according to market research firm ShopperTrak, which has lowered its projected holiday sales increase from 3.3 percent to 2.5 percent for the months of November and December.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.