According to the latest holiday shopping data, the retail sector is having a tough time, with the lone bright spot being the online retail space.
U.S. retail sales declined 4.4 percent in the week that ended Dec. 1 as fewer shoppers visited stores than a year ago, Chicago-based ShopperTrak RCT Corp. reported. A tough economy, with deep discounting early in the holiday season and no "super-hot" product this holiday season has contributed to a tough holiday season for retailers.
Yet, according to Comscore, Online spending during the week through Dec. 2nd increased 17 percent. Now that is trailing last year's 26 percent pace, but still respective growth, and pretty consistent with the numbers we have seen online during this holiday season. For the week ending November 30th we saw online spending increase 18% over last year.
So, while 17% year over year growth doesn't seem like a stellar year, we need to keep it in perspective compared to the broader retail sales struggles. What would those online sales be if retail sales were even with last year, or even up 3%? Would we surpass last years online growth?
So far online holiday shoppers have been more satisfied with the online holiday experience then last year. Our latest results for online holiday shoppers satisfaction for the week end Dec 2nd should be out tomorrow. Check back for the latest.
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