Wednesday, November 26, 2008

Online Spending Down For Season, So Far

A new report from comScore, which tracks online spending and ecommerce, found that so far in the 2008 holiday season, there has been a 4 percent decline in ecommerce sales. According to comScore, there has been $8.2 billion in sales for the first 23 days of the season is a drop from $8.51B spend last year; the firm is now forecasting flat growth this year, a big change from last year's 19 percent growth. comScore speculated that the drop in spending came because of the depressed and volatile stock market, declining housing prices, inflation and the weak job market.