U.S. consumers have spent close to $25 billion so far this holiday season, up 15% from the same period last year, according to a new report from comScore. The research group studied holiday shopping trends beginning in November and found that $479 million was spent on Thanksgiving Day, $816 million was spent on Black Friday, $886 million was spent during Thanksgiving weekend and a record $1.25 billion was spent on Cyber Monday. That wasn’t the only record broken this year, however. “Monday, December 5, 2011 now ranks as the second heaviest spending day in history at $1.18 billion,” the report said, “followed by Tuesday, November 29, 2011 at $1.12 billion and Tuesday, December 6, 2011 at $1.11 billion.” Read on for more.
ComScore expects that December 12th, otherwise known as “Green Monday,” will also be a successful sales day. “The most recent week of the online holiday shopping season saw growth rates remain in line with the season-to-date at 15 percent and three individual spending days eclipse the $1 billion threshold,” comScore chairman Gian Fulgoni said. “These highlights represent another very positive sign for the holiday shopping season, as the week following ‘Cyber Week’ often experiences relative softness in spending momentum due to retailers pulling back on their promotional activity. As we enter what will be the heaviest week of the season for online retailers – beginning with ‘Green Monday’ on December 12 – all signs are now pointing to a strong finish to the season.” ComScore’s full press release follows below.
U.S. Online Holiday Spending Approaches $25 Billion for the Season, Up 15 Percent vs. Year Ago
Upcoming “Green Monday” (Dec. 12) to Contend with Cyber Monday for Heaviest Online Spending Day of the YearRESTON, VA, December 11, 2011 – comScore (NASDAQ : SCOR), a leader in measuring the digital world, today reported holiday season retail e-commerce spending for the first 39 days of the November – December 2011 holiday season. For the holiday season-to-date, $24.6 billion has been spent online, marking a 15-percent increase versus the corresponding days last year. The most recent week (week ending Dec. 9) reached $5.9 billion in spending, an increase of 15 percent versus the corresponding week last year, with 3 days surpassing $1 billion. For the holiday season-to-date, six individual days have surpassed the billion dollar threshold, led by Cyber Monday at $1.25 billion.
2011 Holiday Season To Date vs. Corresponding Days* in 2010
Non-Travel (Retail) Spending
Excludes Auctions and Large Corporate Purchases
Total U.S. – Home & Work Locations
Source: comScore, Inc.Millions ($) 2010 2011 Percent Change November 1 – December 9 $21,405 $24,622 15% Thanksgiving Day (Nov. 24) $407 $479 18% Black Friday (Nov. 25) $648 $816 26% Thanksgiving Weekend (Nov. 26-27) $886 $1,031 16% Cyber Monday (Nov. 28) $1,028 $1,251 22% Week Ending Dec. 9 $5,149 $5,925 15% *Corresponding days based on corresponding shopping days (November 2 thru December 10, 2010)
“The most recent week of the online holiday shopping season saw growth rates remain in line with the season-to-date at 15 percent and three individual spending days eclipse the $1 billion threshold,” said comScore chairman Gian Fulgoni. “These highlights represent another very positive sign for the holiday shopping season, as the week following ‘Cyber Week’ often experiences relative softness in spending momentum due to retailers pulling back on their promotional activity. As we enter what will be the heaviest week of the season for online retailers – beginning with ‘Green Monday’ on December 12 – all signs are now pointing to a strong finish to the season.”
“Green Monday” Leads the Way for Online Holiday Shopping
The term “Green Monday” was coined by eBay in 2007 to describe the Monday occurring around the second week of December, which has tended to be the heaviest (or among the heaviest) online spending days of the year. Over the past six holiday shopping seasons, “Green Monday” has consistently ranked among the top spending days of the season, ending the year as the top-ranked spending day twice (2005 and 2007) and the second-ranked spending day three times (2006, 2008 and 2010).
“Green Monday” U.S. Online Spending: 2005-2010
Non-Travel (Retail) Spending
Excludes Auctions and Large Corporate Purchases
Total U.S. – Home & Work Locations
Source: comScore, Inc.Year Date Spending Rank for Season 2005 Monday, December 12 $556 1 2006 Monday, December 11 $661 2 2007 Monday, December 10 $881 1 2008 Monday, December 15 $859 2 2009 Monday, December 14 $854 5 2010 Monday, December 13 $954 2 “We know that Green Monday will rank among the top online spending days of the season, but it’s hold on the #1 position may be slipping somewhat over time,” added Mr. Fulgoni. “One possible reason is that as Free Shipping Day (Friday, December 16 this year) gains in importance each year, online spending during the heaviest week of the season is being more evenly distributed throughout the week, whereas in the past there was a much higher concentration of spending during the early part of the week.”
Top Ten Heaviest Online Spending Days on Record
Since comScore began tracking e-commerce spending in 2001, seven individual shopping days have surpassed $1 billion in spending. To date, Cyber Monday 2011 (Nov. 28) ranks as the heaviest online spending day in history at $1.25 billion. Leading off this most recent week of the holiday season, Monday, December 5, 2011 now ranks as the second heaviest spending day in history at $1.18 billion, followed by Tuesday, November 29, 2011 at $1.12 billion and Tuesday, December 6, 2011 at $1.11 billion. Cyber Monday 2010 (Monday, November 29, 2010) rounds out the top five at $1.03 billion. The only day from 2009 to make the list is Tuesday, December 15, 2009 at $913 million, the heaviest spending day of the 2009 season.
Ten Heaviest U.S. Online Retail Spending Days on Record (thru Dec. 9, 2011)
Non-Travel (Retail) Spending
Excludes Auctions and Large Corporate Purchases
Total U.S. – Home & Work Locations
Source: comScore, Inc.Date Spending in Millions ($) 1 Monday, Nov. 28, 2011 (Cyber Monday) $1,251 2 Monday, Dec. 5, 2011 $1,178 3 Tuesday, Nov. 29, 2011 $1,116 4 Tuesday, Dec. 6, 2011 $1,107 5 Monday, Nov. 29, 2010 (Cyber Monday) $1,028 6 Wednesday, November 30, 2011 $1,025 7 Thursday, December 8, 2011 $1,024 8 Monday, Dec. 6, 2010 $943 9 Friday, Dec. 9, 2011 $917 10 Tuesday, Dec. 15, 2009 $913
