comScore (SCOR) Expects HUGE Jump in e-Commerce Holiday Spending

November 23, 2011 11:45 AM EST Send to a Friend
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Ahead of the madness expected on Friday, comScore (Nasdaq: SCOR) has boldly released its expectation for e-Commerce (online) spending in holiday 2011.

For the first 20 days of the November - December 2011 shopping period, comScore said U.S. consumers are $9.7 billion lighter in their pocketbooks, a 14 percent increase from online spending in the same period last year.

The heaviest online spending day so far has been November 16th, with about $688 million of purchases.

Based on initial data, comScore sees total holiday online spending increasing 15 percent from $32.6 billion in 2010 to $37.6 billion this year.

comScore Chairman Gian Fulgoni remarked, "These projected growth rates reflect the significant channel shift we're witnessing from offline retail as an increasing number of consumers rely on the online channel for initial browsing, price comparisons and completing transactions. With this continued momentum, comScore anticipates nearly $38 billion in online consumer spending during the November and December time period."

Finally, two questions were posed in a survey to consumers. About 1,000 are selected to participate in the survey's, comScore notes. About 45 percent said that discounts, sales, and/or promotions are about the same to-date than in the same period last year, with 33 percent believing more discounts and sales are being offered.

On shipping, only 4 percent of respondents said it wasn't an important factor, while 76 percent said it was either somewhat or very important in making shopping decisions. Remember, a $5 book on Amazon (Nasdaq: AMZN) can nearly double in price when $3.99 is tacked on for shipping.

Stocks to watch into the weekend and through the season include Amazon, eBay (Nasdaq: EBAY) (will see big upside from PayPal), Wal-mart (NYSE: WMT), overstock.com (Nasdaq: OSTK), Barnes & Noble (NYSE: BKS), Apple (Nasdaq: APL), Target (NYSE: TGT), and just about any other major retailer you can think of...they're all online.


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