Online holiday sales cooling off

Online shopping in the US is cooling off and lower year-over-year sales are expected for the next three weeks leading up to Christmas Day because of an initial surge in shopping traffic during November, a new study suggests.

          Online shopping in the US is cooling off and lower year-over-year sales are expected for the next three weeks leading up to Christmas Day because of an initial surge in shopping traffic during November, a new study suggests.

          Estimated online sales for the week ending December 3 totalled $US1.34 billion up 50% compared with last year, but much lower than the 139% jump experienced the week ending November 26, a new PC Data study commissioned by Goldman Sachs Group released this week suggests. Online sales from October 31 through December 3 are estimated at $US5.6 billion and are up 169% year-over-year, the study finds.

          Still, holiday sales -- defined by the company as sales made during the fourth quarter -- for online retailers appear healthy and could come in 50% to 100% ahead of last year's holiday sales, according to the study. Sales on the internet are expected to peak the week of December 17, with shipping deadlines ranging from December 18 to December 23.

          In specific markets, online toy sales are up 78% year-over-year, while book, movie and video sales were up 150%, for the period between October 31 and December 3. Meanwhile, online sales of consumer electronics products are up 213% year-over-year during the same time period, the study found. Bellwether online retailer Amazon.com ranks tops in books and video sales and also ranks in the top five in music, electronics and toy sales, according to the study.

Join the newsletter!

Error: Please check your email address.
Show Comments
[]