Scoring with Comscore: A Data Driven Approach for Winning Insights on Sports and Fans
Online Spending Growth Soft among Households Making Less than $50,000
RESTON, VA, December 16, 2007 – Comscore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released an update of holiday season e-commerce spending for the first 44 days of the November – December 2007 holiday season (November 1 – December 14). More than $22 billion has been spent online during the season-to-date, marking an 18-percent gain versus the corresponding days last year. Monday, December 10 reached $881 million in sales (up 33 percent versus last year), registering as the heaviest online spending day of the season and the heaviest online spending day on record.
2007 Holiday Season To Date vs. Corresponding Days* in 2006Non-Travel (Retail) SpendingExcludes Auctions and Large Corporate PurchasesTotal U.S. – Home/Work/University LocationsSource: Comscore, Inc.
Holiday Season to Date
November 1 – December 14
Thanksgiving Day (November 22)
“Black Friday” (November 23)
“Cyber Monday” (November 26)
”Green Monday” (December 10)
* Corresponding Shopping Days, Not Calendar Days
“Despite the strong surge in spending we observed at the beginning of last week, with both Monday and Tuesday easily surpassing $800 million in sales and showing very strong growth rates, the remainder of the week saw more modest spending,” said Comscore Chairman Gian Fulgoni. “However, we anticipate that spending at the beginning of this week will again be strong with most free shipping deals available until Tuesday, December 18.”
Lower Income Households Weighing on Online Spending Growth
This year’s 18-percent online retail spending growth rate stands well below the 26-percent rate at the same time last year. An analysis of online spending by household income reveals that slower growth among lower income households is weighing on the overall season-to-date growth. While households earning at least $100,000 have increased their online spending 28 percent versus year ago, households making less than $50,000 have increased their spending by just 10 percent.
Online Retail Spending by Household IncomeNon-Travel (Retail) SpendingExcludes Auctions and Large Corporate PurchasesNov. 1 – Dec. 11, 2007 vs. Corresponding Days in 2006Total U.S. – Home/Work/University LocationsSource: Comscore, Inc.
Online Spending Growth Vs YA
Less than $50,000
$50,000 - $100,000
Greater than $100,000
“The current economic realities appear to be having a negative impact on the growth in consumer spending,” added Mr. Fulgoni. “From the sub-prime housing meltdown to a decline in home values to higher gas prices and an uncertain stock market, many consumers across all income segments are either feeling the pinch this holiday season or are lacking the confidence to spend at the rate they had in the past. Consumers in lower income segments appear to be the most affected, as evidenced by the sluggish growth in their rate of online spending.”
Comscore 2007 Retail E-Commerce Forecast
Online Non-Travel (Retail) Holiday Consumer SpendingExcludes Auctions and Large Corporate PurchasesTotal U.S. – Home/Work/University LocationsSource: Comscore, Inc.
January – October
Holiday Season (Nov-Dec)
About ComscoreComscore, Inc. (NASDAQ: SCOR) is a global leader in measuring the digital world. This capability is based on a massive, global cross-section of more than 2 million consumers who have given Comscore permission to confidentially capture their browsing and transaction behavior, including online and offline purchasing. Comscore panelists also participate in survey research that captures and integrates their attitudes and intentions. Through its proprietary technology, Comscore measures what matters across a broad spectrum of behavior and attitudes. Comscore analysts apply this deep knowledge of customers and competitors to help clients design powerful marketing strategies and tactics that deliver superior ROI. Comscore services are used by more than 800 clients, including global leaders such as AOL, Microsoft, Yahoo!, BBC, Carat, Cyworld, Deutsche Bank, France Telecom, Best Buy, The Newspaper Association of America, Financial Times, ESPN, Fox Sports, Nestlé, Starcom, Universal McCann, the United States Postal Service, Verizon, ViaMichelin, Merck and Expedia. For more information, please visit www.comscore.com.
PressBill DaddiDaddi Brand Communications646email@example.com