ComScore reports that online retail sales in the US for the first three weeks of November (the lead-up to the usually mammoth Thanksgiving-led holiday sales season) were down 4% on last year’s figures - the first time in memory that year-on-year growth has declined for this period.

According to the New York Times: “’We thought that things would solidify in November,’ said Gian Fulgoni, chairman of comScore, who said gut-wrenching declines in the stock market and the auto industry crisis ’spooked people who might have been thinking the worst was behind us.’

“ComScore will also release its annual prediction for the entire holiday season on Tuesday, after some internal wrangling over whether to hold back the number because of too many unknown factors this year. The data firm is predicting that the overall holiday shopping season will improve slightly in December and end up at the same level as last year. In November and December 2007, the e-commerce market grew by 19 percent from the previous year.

“‘We have our fingers crossed that the stock market will not go through another 2,000-point meltdown and that the decline in gas prices will build up some cumulative buying power,’ Mr. Fulgoni said. ‘However, if there is any more significant bad news just over the horizon, all bets are off.’”

Tags: comScore, online retailing, online sales

Posted on Thursday, November 27th, 2008 at 8:52 pm under Marketing, e-marketing.

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