$US29 billion bonanza for online retailers

Online shopping in the US topped $US29 billion in sales over the Christmas season - a 19% rise on the previous festive period. From November 1 to December 31, a record $US29.2 billion was spent online with Monday, December 10 the heaviest individual spending day of the season with $US881 million in sales.

The fastest growing online category was video games, consoles and accessories. This category jumped 129% versus the 2006 holiday season, with popular consoles like Nintendo Wii and Sony PlayStation and games such as Halo 3 driving the strong sales.

Furniture, appliances and equipment was also up 67%. Event tickets (up 24%), abnd consumer electronics (up 23%), also experienced above average growth.

After significant softness early in the season, online apparel sales picked up considerably, recording a rise of 18%.

Sales of jewellery and watches declined as rising costs in precious metals such as gold and platinum dampened consumer demand.

Source: Inside Retailing

Thursday, 10 January 2008

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