Online spending jumped 91% in early December

Total online spending surged 91% during the first week of December compared to an average week in November, according to a report released Dec. 17 by investment banking firm Goldman Sachs, and the research firms Harris Interactive and Nielsen/NetRatings. The big increase in online buying “is a critical first sign that online spending in December will increase faster than November’s modest 10% annual growth,” said Sean Kaldor, vice president of analytical services for Neilson/NetRatings in a statement.

U.S. consumers, who spent a total of $2.6 billion online during the week ending Dec. 7 compared to $1.4 billion spent during an average week in November, spent $91 on average during that week, compared to an average of $77 the previous week. And 20% of those surveyed made an online purchase for the week ending Dec. 7, compared to 18% the week prior.

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