Click to buy
AMERICA’S spendthrift consumers have long been a driver of global economic growth, merrily emptying their wallets and purses on the back of rising house prices and cheap money. So, many nervous eyes have been watching how consumers would react to falling house prices and the squeeze on credit. Happily for retailers and the wider economy, and despite lower consumer confidence, Americans are spending more than ever—online, at least. Since the beginning of November online spending is up by 18% compared with 2006, according to comScore, an internet-information provider. And on Thursday December 6th shoppers rang up USD 803m, the biggest online spending day yet, contributing to record weekly sales of USD 4.6 billion.
