Sales favor online sites
Associated Press
NEW YORK
More often shoppers are making the decision to sit on their couches rather than head to stores this holiday season.
Online sales growth so far this holiday season is surpassing growth in sales at physical stores, according to First Data, which analyzed online and in-store payments from Oct. 31 through Monday.
Sales growth for stores is up 2 percent, while online sales rose 4.6 percent, according to First Data.
Total spending, including sales in both physical stores and online, climbed 2.4 percent, stronger than the 1.8 percent growth during the same period last year.
Though physical stores still account for the majority of spending, the uneven growth between buying at locations and on websites signals the continuation of a big shift in how U.S. consumers are shopping.
This season, Mother Nature appeared to provide an extra lift to online sales, analysts said. Though unseasonably warm weather has hurt overall sales of cold-weather items, it appears to be driving more shopping to buy on their PCs or mobile phones since they don’t want to waste a pleasant day inside a mall.
“Store traffic is down everywhere, and it’s compounded by the weather,” said Steven Barr, U.S. retail and consumer sector leader for PwC. “We do believe that warm weather is driving consumers online.”