NEW YORK (AP) – After a tumultuous presidential election, will Americans be ready to shop for the holidays? Research firms are predicting robust growth for online shopping, at least.
ComScore predicts online spending on “Cyber Monday” will jump to $3.5 billion from $3.12 billion last year. Cyber Monday follows Black Friday and is typically the busiest day of the year for online shopping.
ComScore’s preliminary online holiday shopping forecast is for sales to rise as much as 19 percent to $81 billion.
About 17 percent of holiday spending is done online. Overall, the National Retail Federation is forecasting holiday sales for the November and December period to rise 3.6 percent to $655.8 billion, better than the 3 percent growth seen in the year-ago period.