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Black Friday Sees $534 Million in E-Commerce Spending, Up 1 Percent Versus Year Ago
RESTON, Va., Nov. 30 /PRNewswire-FirstCall/ -- comScore (Nasdaq: SCOR), aleader in measuring the digital world, today reported its tracking of holidayseason retail e-commerce spending for the first 28 days of the November -December 2008 holiday season. For the holiday season-to-date, $10.41 billionhas been spent online, marking a 4-percent decline versus the correspondingdays last year, while Black Friday saw $534 million in online spending, up 1percent. For the combination of Thanksgiving Day and Black Friday, onlinesales were up 2 percent relative to last year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO ) 2008 Holiday Season To Date vs. Corresponding Days* in 2007 Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases Total U.S. - Home/Work/University Locations Source: comScore, Inc. Millions ($) Holiday Season to Date 2007 2008 Pct Change November 1 - 28 $10,839 $10,410 -4% November 27 (Thanksgiving Day) $272 $288 6% November 28 ("Black Friday") $531 $534 1% *Corresponding days based on equivalent shopping days relative to Thanksgiving (October 27 thru November 23, 2007) "Early reports suggest that Black Friday sales in retail stores wereslightly better than anticipated in this depressed retail climate, and thatperformance apparently extended to the online channel, which saw sales onThanksgiving Day and Black Friday combined increase 2 percent versus yearago," said comScore chairman, Gian Fulgoni. "It's probable that on BlackFriday consumers responded positively to the very aggressive promotions anddiscounts being offered in retail stores, so it will be important to see howthey respond to similarly attractive deals being offered online on CyberMonday, the traditional kick-off to the online holiday shopping season."
Most Online Shoppers Sleep in on Black Friday
Evidently, one of the benefits of avoiding the Black Friday crush atretail stores and opting to shop online is not having to wake up at the crackof dawn. The early morning rush online - between the hours of 4:00-8:00 AM -accounted for just 11 percent of the day's total online retail sales, whilethe period after 8:00 AM saw 84 percent of online sales take place. The 12:00-4:00 PM segment represented the highest share of Black Friday online sales (24percent), with the hour of 12:00-1:00 PM being the heaviest individual hour ofspending with 8 percent of sales.
Black Friday Online Spending by Time of Day Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases Total U.S. - Home/Work/University Locations Source: comScore, Inc. Black Friday - Time of Day Share of Dollars Spent 12-4 AM 5.5% 4-8 AM 10.9% 8 AM - 12 PM 23.1% 12-4 PM 24.2% 4-8 PM 17.2% 8 PM - 12 AM 19.1% Cyber Monday Historical Bellwether for Overall Holiday Season PerformanceThe Monday after Thanksgiving, popularly known as "Cyber Monday," representsthe first significant spike in online spending activity for the holidayseason. The phenomenon results from Cyber Monday being the first working dayfollowing the Thanksgiving holiday and the fact that purchases from work stillaccount for approximately half of all e-commerce spending.
Interestingly, Cyber Monday has historically proved to be an accuratebellwether for the overall performance of the online holiday shopping season.While the year-over-year growth rates for individual online spending days varyquite significantly throughout the season, during the past few years CyberMonday has been within a few percentage points of the final holiday seasongrowth rate.
Cyber Monday Growth Rates Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases 2005-2007 Total U.S. - Home/Work/University Locations Source: comScore, Inc. Growth Rate vs. Prior Year Cyber Monday Full Holiday Season 2005 26% 25% 2006 26% 26% 2007 21% 19% "With so much volatility right now in the variables that influenceconsumer spending, predicting where this online holiday season will end up hasbeen far more challenging than in previous years," added Fulgoni. "That said,Cyber Monday may well prove to be an important indicator of whether thedecline in spending that we've seen during the first few weeks of the onlineholiday season will continue for the balance of the year."
comScore 2008 Holiday Online Retail Spending Forecast Online Non-Travel (Retail) Holiday Consumer Spending Excludes Auctions and Large Corporate Purchases Total U.S. - Home/Work/University Locations Source: comScore, Inc. Billions ($) 2007 2008 Pct Change January - October Actual $93.6 $102.1 9% Holiday Season Forecast (Nov-Dec) $29.2* $29.2** 0%** * Actual **Forecast About comScore
comScore, Inc. (NASDAQ: SCOR) is a global leader in measuring the digitalworld and preferred source of digital marketing intelligence. For moreinformation, please visit www.comscore.com/boilerplate
SOURCE comScore
Most Online Shoppers Sleep in on Black Friday
Evidently, one of the benefits of avoiding the Black Friday crush atretail stores and opting to shop online is not having to wake up at the crackof dawn. The early morning rush online - between the hours of 4:00-8:00 AM -accounted for just 11 percent of the day's total online retail sales, whilethe period after 8:00 AM saw 84 percent of online sales take place. The 12:00-4:00 PM segment represented the highest share of Black Friday online sales (24percent), with the hour of 12:00-1:00 PM being the heaviest individual hour ofspending with 8 percent of sales.
Black Friday Online Spending by Time of Day Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases Total U.S. - Home/Work/University Locations Source: comScore, Inc. Black Friday - Time of Day Share of Dollars Spent 12-4 AM 5.5% 4-8 AM 10.9% 8 AM - 12 PM 23.1% 12-4 PM 24.2% 4-8 PM 17.2% 8 PM - 12 AM 19.1% Cyber Monday Historical Bellwether for Overall Holiday Season PerformanceThe Monday after Thanksgiving, popularly known as "Cyber Monday," representsthe first significant spike in online spending activity for the holidayseason. The phenomenon results from Cyber Monday being the first working dayfollowing the Thanksgiving holiday and the fact that purchases from work stillaccount for approximately half of all e-commerce spending.
Interestingly, Cyber Monday has historically proved to be an accuratebellwether for the overall performance of the online holiday shopping season.While the year-over-year growth rates for individual online spending days varyquite significantly throughout the season, during the past few years CyberMonday has been within a few percentage points of the final holiday seasongrowth rate.
Cyber Monday Growth Rates Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases 2005-2007 Total U.S. - Home/Work/University Locations Source: comScore, Inc. Growth Rate vs. Prior Year Cyber Monday Full Holiday Season 2005 26% 25% 2006 26% 26% 2007 21% 19% "With so much volatility right now in the variables that influenceconsumer spending, predicting where this online holiday season will end up hasbeen far more challenging than in previous years," added Fulgoni. "That said,Cyber Monday may well prove to be an important indicator of whether thedecline in spending that we've seen during the first few weeks of the onlineholiday season will continue for the balance of the year."
comScore 2008 Holiday Online Retail Spending Forecast Online Non-Travel (Retail) Holiday Consumer Spending Excludes Auctions and Large Corporate Purchases Total U.S. - Home/Work/University Locations Source: comScore, Inc. Billions ($) 2007 2008 Pct Change January - October Actual $93.6 $102.1 9% Holiday Season Forecast (Nov-Dec) $29.2* $29.2** 0%** * Actual **Forecast About comScore
comScore, Inc. (NASDAQ: SCOR) is a global leader in measuring the digitalworld and preferred source of digital marketing intelligence. For moreinformation, please visit www.comscore.com/boilerplate
SOURCE comScore
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