HOLIDAY MONEY
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Billions of reasons to sell online
Research firm says holiday Web spending thus far is near $10B, up 24% from 2004; may hit $19B.
December 5, 2005: 8:45 AM EST

NEW YORK (CNNMoney.com) - Holiday online spending, excluding travel, jumped 24 percent over last year to $9.75 billion, according to a report Monday.

On Cyber Monday alone, market research firm ComScore Networks said consumers spent $485 million online, which was up 26 percent versus last year.

"Early results confirm that this is going to be another excellent year for online buying," Gian Fulgoni, chairman of ComScore Networks said in a statement.

Sales in sports and fitness have been particularly strong, up 59 percent compared to last year, while furniture, appliances and equipment purchases have doubled versus a year ago, according to the report.

"While we see continued strong growth in traditional online categories such as consumer electronics and toys, it's clear that costumers are spending more online on a wider variety of goods and services, including furniture, home and garden products and jewelry and watches," according to Fulgoni.

He also said that "increased experience and comfort buying online has translated to consumers being willing to make purchases of products at higher price points."

ComScore expects total holiday online spending for the two key months of November and December to jump 24 percent, compared to last year, to $19 billion.

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For more on Cyber Monday, click here.

For more on holiday shopping including gift guides, tipping guides and more, click here.  Top of page

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