Online spending in the run-up to Christmas has surpassed $22 billion, new figures indicate.According to research by comScore, financial transactions over the internet during the first 44 days of the November and December holiday season have seen an increase of 18 per cent compared to the same period last year.
Meanwhile, spending on Monday December 10th reached $881 million - a rise of 33 per cent on the same day last year - and registered the heaviest online spending day on record.
In a forecast for the coming days, comScore chairman Gian Fulgoni stated: "We anticipate that spending at the beginning of this week will again be strong, with most free shipping deals available until Tuesday, December 18th."
However, despite relatively high levels of growth overall, analysis reveals that slower growth among lower income households is constraining the figures somewhat.
While households earning $100,000 or more have increased their internet spending by 28 per cent over last year, those making less than $50,000 registered an increase of just ten per cent.
Commenting on this phenomenon, Mr Fulgoni said: "The current economic realities appear to be having a negative impact on the growth in consumer spending.
"Consumers in lower income segments appear to be the most affected, as evidenced by the sluggish growth in their rate of online spending."
There have been concerns over retail growth as a whole this year as consumers are hit by the impact of the global credit crunch, high interest rates and rises in oil prices, among other factors.
