Tuesday, December 28, 2010

DBJ... Online shopping up 15 percent

From Dayton Business Journal…
Online holiday shopping jumps 15 percent in 2010
Monday, December 27, 2010

Online shopping was a bit merrier this holiday season with spending up about 15.4 percent compared to 2009.
U.S. consumers spent an estimated $36 billion from Oct. 31 to Dec. 24, according to SpendingPulse, a report from MasterCard that combines MasterCard (NYSE: MA) payment purchases with survey-based estimates of non-credit card purchases.
“Today eCommerce accounts for a much larger share of overall retail sales compared to a few years ago. And during this holiday season, it registered double digit growth for 6 out of 7 weeks,” Michael McNamara, vice president of MasterCard Advisors SpendingPulse, said in a news release.
Online sales topped $1 billion six days of the holiday shopping season — twice as many days as in 2009 — with Cyber Monday recording $999.3 million in sales, a 25.3 percent increased compared to last year.
Apparel sales were a strong driver of online sales growth as clothing purchases represented 18.8 percent of total online sales, up from 16.9 percent in 2009.
The National Retail Federation, a retail trade association, predicted in-store and online holiday spending will hit the $451 billion mark, which would represent a 3.3 percent increase over 2009.
Ohio is home to a number of major retailers with e-commerce operations, including New Albany-based Abercrombie & Fitch Co. (NYSE:ANF) and discount shoe retailer DSW Inc. (NYSE:DSW). Victoria’s Secret, a subsidiary of Columbus-based Limited Brands Inc. (NYSE:LTD), also bases its e-commerce arm in Ohio and has 1,000 employees at a call center in suburban Dayton.

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