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

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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