Despite steady Black Friday numbers, online shopping falls

Online spending in the U.S. held steady on Friday, despite fears of a slowdown in spending by consumers amid the worsening economic outlook.

The volume of sales at Internet retailers held steady Friday compared to last year, despite the worsening economic outlook and signs U.S. consumers are cutting back on spending.

Online sales on Nov. 28, the day after last week's U.S Thanksgiving holiday, also known as Black Friday, were US$534 million, up 1 percent from last year, according to comScore, which tracks Internet sales. Sales on Thanksgiving, Nov. 27, were even stronger, up 6 percent to US$288 million, it said.

On the surface, these numbers seem to indicate consumer spending may be more resilient than many observers forecast. But total online spending since the start of the holiday shopping season on Nov. 1 is down by 4 percent to US$10.4 billion -- a shortfall of US$429 million compared to last year, ComScore said.

The company said consumers were likely persuaded to spend by steep discounts offered on Friday by Internet retailers.

Observers are now watching to see what happens today. The first Monday after Thanksgiving, sometimes called Cyber Monday, is a more important bellwether of online holiday sales that Thanksgiving or Black Friday. This is the first U.S. work day after the holiday, and roughly half of all online purchases made in the U.S. are made during work hours, ComScore said.

In previous years, the increase in online sales on Cyber Monday has been within a "few percentage points" of the overall growth rate for holiday spending, it said.

"Cyber Monday may well prove to be an important indicator of whether the decline in spending that we've seen during the first few weeks of the online holiday season will continue for the balance of the year," the market research company said in a statement.

ComScore forecast that holiday spending will be flat this year compared to 2007.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags online shoppingComScore

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Sumner Lemon

IDG News Service
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?