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Holiday Spend Soars to $28B

Holiday ecommerce spending is up 12% year-over-year for the first 49 days of the holiday season (through Dec. 19), equaling $28.36 billion, according to comScore.

This year’s holiday season holds four of the all-time high spending days, including Cyber Monday, when spending slipped past $1 billion, a single-day record writes BizReport.

During the final shopping weekend before Christmas, online spending hit $900 million, a 17% growth rate over last year (via MediaPost). The final weekend capped the heaviest online spending week of all time, reaching $5.5 billion, says comScore chairman Gian Fulgoni.

The top online destinations for the week ending Dec. 18 were Amazon, which pulled 15% of visit share, Walmart (7%) and Target (4.5%). Other top sites were BestBuy, JCPenney and Sears.

Early incentives and free shipping helped drive up holiday sales.

Brick-and-Mortar Up, Too

Deloitte predicted in September that total holiday sales would climb just 2% this year, to $852 billion. Last week, the National Retail Federation raised its holiday sales forecast, predicting a 3.3% increase in holiday spending.

While online increases are higher than brick-and-mortar, overall holiday spending has risen, as well. Apparel shopping is up 9.6% this season, with women’s apparel up 4.4% and men’s apparel up 8.4%. Jewelry revenue rose 2.6%, while furniture is up 3.4%, according to MasterCard Advisors’ Spending Pulse (via the Christian Science Monitor).

The electronics category has been flat, up just 0.4%.

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