Consumer eSpending Strong… so far.
November 26th, 2007 by Grant in: EconomicsA Sunday report from ComScore Inc revealed that retail spending on the Internet during the Thanksgiving weekend is up 29% to $272 million from from the same period last year.
For so-called Black Friday, e-commerce sales amounted to $531 million, a 22% gain from e-commerce spending in 2006. ComScore expects “Cyber Monday,” the first workday after the holiday weekend, to post sales exceeding $700 million.
I’m not sure how an increase in on-line spending will affect our economy, but one thing is for certain: On-line or off-line, it seems higher fuel costs, a staggering housing market, and credit problems are not curtailing consumer spending just yet.
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