Retailers' Thanksgiving Offers Won't Avert Web Sales Slowdown

Wal-Mart Stores Inc. and Best Buy Co. will mark Thanksgiving today with online promotions aimed at jumpstarting the holiday sales season. The Web sites are unlikely to provide the boost they did last year.

Internet sales are poised to slow with the rest of holiday spending this year as consumers suffer from higher food and fuel costs and the worst housing slump since 1991.

Spending through Web sites, which makes up more than 3 percent of all retail sales, will climb 20 percent to $29.5 billion in November and December, according to ComScore Inc., an online research firm. That's less than the 26 percent growth in online sales during last year's holiday season.

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- Posted: 2007-11-22 10:33:37

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