Holiday Retail Spending Rings Up $14 Billion
Analysis firm comScore said the first 32 days of the US holiday non-travel retail shopping season topped $14 billion for a 17 percent gain over the same period last year.
Give the Monday after Thanksgiving, aka Cyber Monday, credit for bringing in the cash with $733 million in non-travel retail racked up for the day.
Despite high gas prices and difficulties in the subprime housing market, people still found the means to spend, spend, spend. ComScore said the period of November 1 through December 2 saw video games, consoles, and accessories continuing to skyrocket in demand.
Gian Fulgoni, comScore chairman, said the three days after Cyber Monday saw over $700 million spent each day.
"However, strong sales subsided towards the end of the week, eventually resulting in a 17-percent gain versus the corresponding time period last year - in line with the growth rates we’ve experienced for the season-to-date," he said.
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