Consumers are dedicating a larger portion of their holiday shopping budget to e-commerce websites than they ever have before.
In fact, consumers spent $1 billion online collectively across an entire workweek following the second Monday of December. In total, comScore recently reported that $37.8 billion was spent online during the 45 days that followed Nov. 1. Consumers are also buying gifts deeper into the holiday season than they had before: total spending since Thanksgiving has increased by more than 20 percent when compared to the same timeframe in 2012.
However, it’s more than just workweek spending that’s increasing, according to the report.
“One of the most interesting stories we are seeing this holiday season is the explosion in weekend online spending,” said Gian Fulgoni, chairman of comScore. “While we have seen solid growth during the days between Monday and Friday, weekend growth rates have surged to nearly four times what we’re seeing during the work weeks.”
Overall year-over-year e-commerce growth rates of more than 30 percent have been recorded for every single weekend since Thanksgiving, according to comScore, with weekday increases hovering between 10 and 16 percent.
“There are a few likely explanations for the robust weekend shopping we’re seeing,” continued Fulgoni. “The first is that with six fewer days between Thanksgiving and Christmas this year, consumers who are pressured to get their shopping done in less time are simply increasing their offline shopping on the weekends. Another explanation is that because of the shortened season frenzy, perhaps some consumers are opting to shop from home and avoid the long store lines.”
Mobile spending is helping to drive e-commerce
One of the reasons that e-commerce sales rates are increasing so dramatically may be that more consumers are becoming open to the idea of using mobile credit card payment processing terminals to buy the products they obtain online. Another comScore study, reported on by internet Retailer, noted that 57 percent of all online retail visitors in October 2013 used a smartphone or tablet to shop at that website.
“Although the number of mobile Internet users still lags the total number of desktop Internet users by a wide margin, mobile Internet users are spending a greater amount of time on those devices, making mobile now account for half of all digital media time spent,” Andrew Lipsman, vice president of marketing and insights at comScore, told Internet Retailer.Back To Blog