E-commerce sales are expected to bring more joy for online retailers this holiday season, according to a new report. Analytics company comScore is estimating that people will spend $70.1 billion buying gifts online during the holiday season, which is a 14% jump from the previous year.
Most consumers will be using desktop computers for online purchases at sites like Amazon (AMZN), with spending via computers expected to reach $58.3 billion, up 9% year-over-year. But mobile commerce will grow faster, and accounting for $11.7 billion of retail spending, up 47%.
Although total e-commerce sales will grow, the expected growth rate is in line with last year’s, which was 15%. comScore also forecasted that Cyber Monday, the first Monday after the Thanksgiving holiday weekend, will exceed $3 billion in online sales and become the heaviest online spending day in history for the sixth straight year.
comScore’s projections are slightly higher than consulting group Deloitte’s predictions, which estimated that non-store, online sales will see an 8.5 to 9% increase over the holiday shopping frenzy. Research firm Forrester predicted online sales will rise 11% in November and December.
While online sales will continue to grow, most holiday spending will continue to take place in stores like Best Buy (BBY), Walmart (WMT), and Target (TGT). Forrester estimates that online sales will only represent 15% of total retail sales for the season. But more consumers will be checking their phones for price comparisons and deals while in stores this season.
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