Online Spending Soared Last Weekend Before Christmas by 98%

You didn't read that wrong. Online spending increased by 98% last weekend, compared to last year's last weekend before Christmas.

A winter weather event in the Northeast likely caused the surge, which may have come at the expense of brick and mortar stores. But let's take the good news where we can get it.

Even better news if you look at a historical context is that 2007 was an unusually high spending year compared to the years around it. It kind of bucked the trend. If the growth had been more steady, a lot of the nervousness about the online economy may not exist.

Here are the stats:

comscorelastweekendChristmas2008.jpg

comscoreChristmas2003to2008.jpg

Related Reading:
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Preparing for the Worst: Bad Online Economic Data Just in Time for Black Friday