Online Shoppers Increase U.S. Holiday Spending by 21% |
| Bloomberg - Nov 28, 2007 |
Online shopping reached a record this week as U.S. retailers cut prices as much as 60 percent to lure shoppers returning to work after the Thanksgiving holiday.
ComScore Inc. said sales on retailers' Web sites rose 21 percent to $733 million on Nov. 26, the first Monday after Thanksgiving, as Walmart.com, Best Buy Co. and Circuit City Stores Inc. ran online promotions for high-definition televisions and leather jackets. Shoppers sought bargains in the face of rising gasoline prices and the worst housing slump since at least 1991.
Companies count on November and December for 20 percent of their profits, and they used lower prices to get consumers into stores and onto Web sites to start the U.S. holiday shopping season.
Read Full Article from Bloomberg
- Posted: 2007-11-28 10:26:37
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