Retail
Has Holiday Shopping Activity Started To Falter?
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The rate of e-commerce sales growth for this holiday season has begun to slow. And, there is some reason to believe that the problem will become worse.
comScore reports that online sales growth in the period from November 27 to December 3 was 9% to $5.163 billion. That compares to an increase of 28% on Thanksgiving Day and a remarkable 16% rise to $1.028 billion on Cyber Monday. That made it the largest single day of e-commerce activity in history.
Online retail revenue rose more than expected in the first three weeks of November, a sign that large discounts may have caused people to shop early. The week before Christmas, known for years as a good time for consumers to take advantage of retailers who need to clear inventory, may be uncharacteristically weak. The money that shoppers have to spend in what is still a difficult economy may be gone by then
Douglas A. McIntyre
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