Online Holiday Sales Up 15% Over 2010

Digital marketing intelligence firm comScore is reporting that online shopping has skyrocketed this holiday season. Online shoppers have spent nearly $31 billion since November 1. That's a 15% increase over the same period last year.

The most recent work week saw four individual days surpass $1 billion in online spending. That follows sales of $1.25 billion dollars on Cyber Monday, the first Monday after Thanksgiving.

John Challenger is CEO of global outplacement firm Challenger, Gray & Christmas.

“Two-thirds of economic growth is based on consumer demand. If we see the consumer beginning to get more confident again, that’s going to be beneficial for jobs in many areas of the economy — not just during the holiday season, but throughout the year.”

Challenger says while online sales don’t add retail jobs the way sales in brick and mortar stores do, they do boost hiring in transportation, warehousing and manufacturing.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...