Online To Outpace Overall Holiday Sales Growth Fourfold - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business & Finance

Online To Outpace Overall Holiday Sales Growth Fourfold

Latest online figures from comScore Networks show that online sales are expected to increase 25% to $24.6 billion.

Online holiday sales growth is on track to be nearly four times higher than overall retail sales during the busiest time of the year.

Credit card company Visa USA lowered its forecast for overall holiday sales growth to 6.5% over last year from its earlier projected 7.5% gain, The New York Times reported Tuesday. Latest online figures from comScore Networks, meanwhile, show that online sales are expected to increase 25% to $24.6 billion.

ComScore expects to release its sales numbers for Nov. 1 through Christmas Eve by Friday, a spokesman said Tuesday.

Visa's forecast is a closely watched indicator of the economy, given that $17 out of $100 are spent on the company's 500 million credit cards.

Meanwhile, Nielsen/NetRatings reported late last week that visits to online-only retailers on its Holiday eShopping Index were 54% greater than visits to retailers with online offerings and brick-and-mortar stores. The number of visits to multichannel retailers, however, was 21% higher than last year, while visits to online-only retailers were up 12%.

The numbers indicate that multichannel retailers were investing heavily online, leveraging their advantage of being able to offer in-store pickups to eliminate shipping costs, Nielsen/NetRatings said. The firm's Holiday eShopping Index comprises more than 120 retailers with an online presence.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Commentary
Where Cloud Spending Might Grow in 2021 and Post-Pandemic
Joao-Pierre S. Ruth, Senior Writer,  11/19/2020
Slideshows
The Ever-Expanding List of C-Level Technology Positions
Cynthia Harvey, Freelance Journalist, InformationWeek,  11/10/2020
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll