Cyber Spending Hits $16.8 Billion for the Holidays (So Far) [eMoney]

/cyber-monday-to-be-followed-by-how-did-i-miss-that-19-9-percent-apr-tuesday/?mod=ATD_search">the heaviest online spending day on record at $1.028 billion.

On Tuesday, spending hit $911 million, making it the third heaviest day on record, and Wednesday and Thursday came in at $868 million and $850 million, respectively. These figures include both physical merchandise, and relatively new categories, like virtual goods.

The big winners in the past week have been the Amazon.com’s of the world and other large retailers, comScore noted.

The top 25 online retailers generated 20 percent more sales for the month of November, compared to last year, and their share increased to nearly 68 percent of the market. Meanwhile, the marketshare of small-to-mid-sized retailers shrunk to 32.2 percent.

These increases aren’t expected to last as some retailers became less aggressive with promotions and discounts toward the end of the week when -over-year growth rates fell to single digits. “We may see another week of this effect before late season discounts and buying by procrastinators gives the season a final spending surge,” said comScore chairman Gian Fulgoni.

Tagged: EMoney, Amazon, Christmas, commerce, comScore, Cyber Monday, e-commerce, eBay, goods, holidays, merchandise, Online, retail, shopping, Thanksgiving, virtual, Virtual goods | permalink

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