January 5, 2006
The 2005 Christmas and Holiday season was a lot about eCommerce and,
to a lesser extent, B2B (Business-to-Business).
As proof of this, a recently published report from comScore Networks
estimates that U.S. consumers spent about $19.6 billion on eCommerce
sites (excluding travel) from Nov. 1 through Dec. 31, 2005.
That's up 25 percent from the corresponding figure from the previous
(2004) holiday season, $15.7 billion.
The growth of consumer-driven e-commerce wasn't limited to the holiday season, with comScore Networks estimating that 2005 Internet spending, including travel, came in at $143.2 billion, a 22 percent boost over the $117.2 billion 2004 figure.
To understand the importance of this growth in context, look at the same-store sales growth figures for some major retailers this past quarter.
--- Wal-Mart: 2.2 percent
--- J.C. Penney: 2.2 percent
--- Target: 4.7 percent
--- Costco: 7 percent
--- Nordstrom: 7.7 percent
The good news for both brick-and-mortar and online channels is that spending was up this holiday season. Looking forward, though, brick-and-mortar retailers need to acknowledge the much faster growth of online sales and take the channel more seriously.
Source: eMarketer
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