Consumers are beginning to loosen their purse strings as the economy recovers from the recession and adds jobs, U.S. Commerce Department figures showed last week. Bloomberg says online stores may also benefit as shoppers become increasingly comfortable buying over the Web. E-commerce companies will account for 7 percent of total retail sales this year, up from 6 percent last year, Forrester Research Inc. estimates.
“The beginning of the online holiday shopping season has gotten off to an extremely positive start, outperforming our earlier expectations,” ComScore Chairman Gian Fulgoni said in a statement. “While this early spending surge reflects, in part, heavy promotional activity on the part of retailers occurring earlier this season, it is nevertheless a very encouraging sign.”
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