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Analysts: Holiday E-tail On A Roll

  • Reuters, Monday, November 30, 2009 1:32 PM
Analysts are predicting that a strong start for Web retailers should continue into what is otherwise expected to be a lackluster holiday season. Companies with the most to gain from said trend include, Wal-Mart's online unit and Google, analysts said. comScore said Sunday that U.S. online spending on Black Friday was the strongest it has ever been, up 11% over the prior year, with $595 million spent online. Sales at retail stores rose 0.5% to $10.66 billion on that day, the official kick-off to holiday shopping, according to ShopperTrak. "That's pretty significant in a recessionary environment -- to get a record like that and be that far ahead," comScore Chairman Gian Fulgoni tells Reuters. "I still expect Monday should be a much bigger day online than Black Friday."

Meanwhile, Forrester analyst Sucharita Mulpuru said she was not surprised by the online strength over the holiday weekend. Forrester has estimated that U.S. online sales in November and December should rise 8% this year, up from a 5% rise year-over-year.

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