Online shopping doesn't quite click
Internet retailers had hoped consumers frustrated by gas prices nearing $3 a gallon would stay home and shop online. Instead, shoppers stalled.
While online spending rose during the crucial holiday season, it paled in comparison to last year's increase, Reston, Va.-based ComScore Inc. said today. Online spending from Nov. 1 through Dec. 27 increased 19 percent to almost $28 billion, up from $24 billion a year earlier. Last year, sales were up a vibrant 26 percent.
That echoes the Reuters/University of Michigan final index of consumer sentiment for December, which slipped to 75.5, the lowest since October 2005.
So what are shoppers thinking? The ComScore folks believe consumers' minds are preoccupied with the meltdown in the mortgage market. It's hard to think of putting things under the tree when your priority is keeping a roof over your head.
Makes sense to me. What do you think?
While online spending rose during the crucial holiday season, it paled in comparison to last year's increase, Reston, Va.-based ComScore Inc. said today. Online spending from Nov. 1 through Dec. 27 increased 19 percent to almost $28 billion, up from $24 billion a year earlier. Last year, sales were up a vibrant 26 percent.
That echoes the Reuters/University of Michigan final index of consumer sentiment for December, which slipped to 75.5, the lowest since October 2005.
So what are shoppers thinking? The ComScore folks believe consumers' minds are preoccupied with the meltdown in the mortgage market. It's hard to think of putting things under the tree when your priority is keeping a roof over your head.
Makes sense to me. What do you think?
posted by Eileen Smith at 6:20 PM
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