Monday, November 26, 2012

Online Black Friday Sales Topped $1 Billion For First Time Ever

Black Friday certainly was a success for online retailers this year. With more and more shoppers opting to avoid crowds and long lines. Instead opting to do most of their shopping from the comforts of home. According to analytics firm comScore online shopping on Black Friday surged to $1.042 billion, making it the heaviest online shopping day to date in 2012, and representing a 26 percent bump compared to last year.

"Despite the frenzy of media coverage surrounding the importance of Black Friday in the brick-and-mortar world, we continue to see this shopping day become more and more prominent in the e-commerce channel – particularly among those who prefer to avoid crowds at the stores," said comScore chairman, Gian Fulgoni. "With Black Friday online sales up 26 percent and surpassing $1 billion for the first time, coupled with early reports indicating that Black Friday sales in retail stores were down 1.8 percent, we can now confidently call it amulti-channelmarketing phenomenon."

Total online sales for the first 23 days of the November-December 2012 holiday season reached $13.7 billion, up 16 percent versus the same time period one year ago. Online spending on Thanksgiving Day totaled $633 million, up nearly a third from $479 million in 2011, comScore says.

ComScore expects online retail spending to rise 17 percent to $43.4 billion through the whole holiday season. That is above the 15 percent increase last season and ahead of the retail industry's expectation for a 4.1 percent increase in overall spending this holiday.

The holiday shopping season is far from over. Today is Cyber Monday, the busiest online shopping day of the year, and comScore figures sales for the day will top $1.5 billion.

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