Another $5.9 Billion Dollar Week for Online Holiday Sales

For the second consecutive week, online sales hit the $5.9 billion mark and saw growth rates remain in line with the season-to-date at 15-percent, reports comScore, which measures digital data.

In addition, the most recent week (ending December 9) had three days surpassing $1 billion in sales, the Reston, Va.-based company reports. For the holiday season-to-date, six individual days have surpassed the billion dollar threshold, led by Cyber Monday at $1.25 billion.

“These highlights represent another very positive sign for the holiday shopping season, said comScore chairman Gian Fulgoni. The week following ‘Cyber Week’ (which includes Cyber Monday the Monday after Black Friday) often experiences relative softness in spending momentum due to retailers pulling back on their promotional activity. As we enter what will be the heaviest week of the season for online retailers … all signs are now pointing to a strong finish to the season.”

This season has been a coming out of sorts for online retail. Since comScore began tracking e-commerce spending in 2001, seven individual shopping days have surpassed $1 billion in spending. Six of those days occurred this year. To date, Cyber Monday 2011 (Nov. 28) ranks as the heaviest online spending day in history at $1.25 billion. Leading off this most recent week of the holiday season, December 5, now ranks as the second heaviest spending day in history at $1.18 billion, followed by November 29 at $1.12 billion, and December 6 at $1.11 billion. Cyber Monday 2010 (Monday, November 29, 2010) rounds out the top five at $1.03 billion.

Retail e-commerce spending for the first 39 days of the November – December 2011 holiday season has reached $24.6 billion, a 15-percent increase versus the corresponding days last year.

Consumer Confidence Index Increases Slightly

The Conference Board Consumer Confidence Index, which decreased in March, improved in April. The Index now stands at 65.4 (1985=100), up from 63.8 in March. The Present Situation Index increased to 39.6 from 37.5. The Expectations Index rose to 82.6 from 81.3.

“Consumer confidence, which had declined sharply in March, posted a modest gain in April. Consumers’ short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing. Inflation expectations, which had spiked, retreated somewhat in April,” said Lynn Franco, director of The Conference Board Consumer Research Center. “Although confidence remains weak, consumers’ assessment of current conditions gained ground for the seventh straight month, a sign that the economic recovery continues.”

Consumers’ appraisal of present-day conditions, although mixed, improved in April. Those stating conditions are “good” decreased slightly to 14.8 percent from 15 percent. Those stating business conditions are “bad” also declined slightly to 36.4 percent from 36.6 percent. Consumers’ assessment of the labor market was more favorable than last month. Those saying jobs are “hard to get” declined to 41.8 percent from 44.4 percent, while those stating jobs are “plentiful” increased to 5.2 percent from 4.6 percent.

Consumers’ short-term outlook, which had soured in March, improved moderately in April. While those expecting business conditions to improve over the next six months declined to 18.8 percent from 20.8 percent, those anticipating business conditions to worsen decreased to 14.2 percent from 15.5 percent. Consumers were mixed about the labor market outlook for the next six months. Those expecting more jobs in the months ahead declined to 17.5 percent from 19.6 percent, while those anticipating fewer jobs declined to 19.0 percent from 20.5 percent. The proportion of consumers expecting an increase in their incomes improved to 16.7 percent from 15.2 percent.

Consumer Confidence Index Down 8.6% in March

The Conference Board Consumer Confidence Index, which had increased in February, declined in March. The Index now stands at 63.4 (1985=100), down from 72 in February. The Present Situation Index improved to 36.9 from 33.8. The Expectations Index decreased to 81.1 from 97.5 last month.

“The sharp decline in confidence was prompted by a sharp decline in expectations,” said Lynn Franco, director of The Conference Board Consumer Research Center. “Consumers’ inflation expectations rose significantly in March and their income expectations soured, a combination that will likely impact spending decisions. On the other hand, consumers’ assessment of current conditions improved, indicating that while the short-term future may be uncertain, the economy continues to expand.”

Consumers’ assessment of current conditions improved in March. Those claiming business conditions are “good” increased to 15.1 percent from 12.4 percent, while those claiming business conditions are “bad” decreased to 37 percent from 39.3 percent. Consumers’ appraisal of the job market, however, was slightly less favorable than in February. Those saying jobs are “hard to get” edged up to 44.6 percent from 44.4 percent, while those stating jobs are “plentiful” dipped to 4.4 percent from 4.9 percent.

Consumers’ short-term outlook was considerably less favorable than in February. The proportion of consumers expecting business conditions to improve over the next six months declined to 20.6 percent from 25.2 percent, while those anticipating business conditions will worsen increased to 16.2 percent from 10.3 percent. Consumers were also more downbeat about the labor market. Those expecting more jobs in the months ahead declined to 19.9 percent from 21.2 percent, while those anticipating fewer jobs rose to 20.7 percent from 15 percent. The proportion of consumers expecting an increase in their incomes declined to 15.3 percent from 17.4 percent.

The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by The Nielsen Company. The cutoff date for March’s preliminary results was March 16.