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!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

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

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

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.

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?