Forecast: Holiday E-Commerce Spending to Grow 3%

Authored by Mark Hefflinger on November 24, 2009 - 10:17am.

Reston, Va. - Online retail spending for the 2009 holiday season is expected to reach $28.8 billion, up 3% from a year ago, according to a new forecast from Internet audience measurement firm comScore.

The figure would be an improvement over 2008, when online spending fell 3% in the November-December period, but still would be well below previous growth rates of 20% or higher.

The firm said that spending increased 2% for the first 22 days of the season.

"The beginning of the online holiday shopping season has gotten off to a positive start, which is a nice improvement over the slightly negative growth rates we've experienced through much of 2009," said Gian Fulgoni, the chairman of comScore.

"Nonetheless, it will likely be tempered by the stark reality of 10% unemployment and less disposable income in many consumers' wallets."

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