Small retailers looking to incorporate in New York, California or any other major retail economy may be encouraged by the most recent online shopping report from comScore, which finds spending up over last year in every shopping period so far this holiday season.
According to the study, which measured data from November 1 to December 5, total online spending reached $17.5 billion, marking a 12 percent increase over last year. Thanksgiving, Black Friday, Cyber Monday and even the first week in December all saw major jumps in spending over 2009.
Cyber Monday even broke the record for the highest level of online shopping in a single day, reaching an astounding $1 billion - up 16 percent from last year.
"Cyber Monday started the week off with a bang, but online spending growth softened during the latter part of the week and into the weekend,” said comScore chairman Gian Fulgoni. "We anticipated that the post-Cyber Monday period would experience a slight hangover after many of the retailers' most aggressive deals and promotions expired, but we can expect to see activity begin to pick up again next week as we get into the middle part of December when online buying typically peaks."
Although it is true that the economy remains troubled as it slowly digs its way out of the recession, consumer activity is often seen as paralleling or even predicting coming economic trends.
Tags : ca, incorporation, ny, small business management
Posted: Dec 8th, 2010