Last Updated on Sunday, 25 November 2012 23:53 Written by Reuters Sunday, 25 November 2012 23:38
Black Friday retail sales online this year topped US$1 billion (S$1.22 billion) for the first time ever as more consumers used the Internet do their early holiday shopping, comScore said on Sunday. -- PHOTO: BLOOMBERG
San Francisco - Black Friday retail sales online topped $1 billion for the first time this year as more consumers used the Internet do their holiday shopping, comScore Inc said on Sunday.
Online sales jumped at least 22 percent on Black Friday, from sales of $816 million on the same day last year, according to comScore data.
E-commerce accounts for less than 10 percent of consumer spending in the United States. However, it is growing much faster than bricks-and-mortar retail as shoppers are lured by low prices, convenience, faster shipping and wide selection.
ShopperTrak, which counts foot traffic in physical retail stores, estimated Black Friday sales of $11.2 billion, down 1.8 percent from the same day last year.
“Online has been around 9 percent of total holiday sales, but it could breach 10 percent for the first time this season,” said Scot Wingo, chief executive of ChannelAdvisor, which helps merchants sell more on websites including Amazon.com and eBay.com.
ComScore expects online retail spending to rise 17 percent to $43.4 billion through the whole holiday season. That is above the 15 percent increase last season and ahead of the retail industry’s expectation for a 4.1 percent increase in overall spending this holiday.