comScore predicts 11% increase in holiday spending, highest on record

By on Nov 24, 2010 at 10:42 AM
Retail November 24, 2010

Analytics company comScore is forecasting that consumer spending this holiday season will rise more than 11%, making this year’s figure the highest on record. The company has already published the purchasing figures for the first three weeks of November, which total $9.01 billion and are 13% higher than last year. “We are seeing online spending surpass the totals we saw in 2007 prior to the recession, and expect sales this holiday season to be the highest on record,” said comScore’s chairman, Gian Fulgoni. comScore anticipates that consumers will spend roughly $32.4 billion this holiday season... over $2 billion more than the yearly GDP of Kenya.

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  • Anonymous

    Come on America, get out there and charge us into even great financial calamity! Nothing says smart like people spending money that not only do they not have but will not have anytime soon.

    Not sure who are more intelligent:

    1. The spenders
    or
    2. People hating tech companies

    • sirpaul

      And then they complain about outsourcing and president not doing a good job and that there are no jobs…this all happening while they are spending thousands on new phones, TVs and laptops.

  • john doe

    Ummm, maybe people are just going out and buying gifts earlier in the shopping season when prices are lower. This forecast is using the trends from the past three weeks to project out? That doesn’t sound very smart…but what do I know.

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