U.S. Online Holiday Shopping Season +19%, Jewelry Lagged
January 07, 08
Sales of jewelry and watches declined marginally versus a year ago, as rising costs in precious metals like gold and platinum may have dampened consumer demand. Overall, the 2007 holiday season (November 1-December 31) witnessed growth in online sales in the two-month period. The day with the biggest sales and the greatest year-over-year growth was Green Monday (December 10), when shoppers spent $880 million. The second best date was Cyber Monday (November 26) when consumers purchased $730 million worth of goods. “Ultimately, the softness in the growth of online retail sales during the first ten days of November proved difficult to overcome and prevented the season’s growth rate from reaching our forecast of 20 percent,” said comScore Chairman Gian Fulgoni. “However, the period between Thanksgiving and Christmas – another measure of the strength of the holiday season – experienced a healthier 21 percent growth rate.” Video games, consoles and accessories was the fastest growing online retail category, jumping 129 percent versus the 2006 holiday season. Furniture, appliances and equipment (up 67 percent), event tickets (up 24 percent) and consumer electronics (up 23 percent) also experienced above average growth. After seeing substantial softness early in the season, online apparel sales picked up considerably in the latter part of the season, finishing up 18 percent.