According to the Department of Commerce, U.S. retail sales rose .05% in October. Many retailers are optimistic entering Black Friday and Cyber Monday, including Performics’ retailer clients (who have been increasing paid search spend over the last few weeks). Other industry reports released also indicate that the 2011 holiday will be strong for retailers:
- comScore’s Q3 2011 U.S. Retail E-Commerce Spending Study showed that online retail spending reached $36.3B in Q3, up 13% year-over-year. comScore also forecasts 15–17% year-over-year holiday growth. Top-performing product categories included digital content and subscriptions, event tickets, jewelry and watches, consumer electronics and computer software.
- Forrester’s U.S. Online Holiday Retail Forecast for 2011 estimated that U.S. online holiday sales would grow 15% year-over-year to nearly $60 billion. Forrester attributes this growth to increased tablet usage and enticing online deals.