Online Christmas Shopping Hits $10bn, Says Survey

10 January 2001

US online spending hit $10.7 billion over the 2000 holidays, more than double last year’s $5.2 billion, according to a survey released yesterday by Goldman Sachs/PC Data.

The figures for the last week of December jumped from $542 million in 1999 to $878m in 2000. Compared to the previous week, the seven days after Christmas witnessed a rise in consumer spending on computers ($116m to $232m), clothing ($98m to $121m), software ($19m to $21m) and home and garden products ($10m to $22m).

PC Data’s Cameron Meierhoefer commented that the results were in line with expectations, despite problems with the economy. Whether they are high enough to limit the growing casualty list of dotcoms remains to be seen.

News source: Advertising Age - Interactive Daily