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Online Xmas Spending: So Far, Not So Good

November 25, 2008
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

You will not be shocked to learn that online holiday spending is not off to a good start.

ComScore today reports that for the first 23 days of November, e-commerce spending (excluding travel, auctions and large corporate purchases) was down four percent from the same period last year. ComScore Chairman Gian Fulgoni said that “with consumer confidence low and disposable income tight, the first weeks of November have been very disappointing.”

ComScore’s forecast is that overall online spending this year will be flat versus a year ago. That compares with a 19 percent rise in spending online last year, and a nine percent rise in e-commerce for the year through October.

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