Jewelry & Watches Are Top Growing Online Retail Category for 2009 Holiday Season

Sales of jewelry and watches rose 20% this holiday season

After a tough 2008 holiday season, jewelry and watches have rebounded as the top performing online retail category in 2009, according to comScore. Posting a 20 percent rise in dollar sales this year, the jewelry and watch category is markedly above the second highest growing category, consumer electronics, which posted a 15 percent rise.

U.S. consumer spending online overall rose 4 compared to last year, with shoppers spending $29.1 billion at online retail sites in November and December. Online sales were particularly strong over Black Friday weekend this year, as well as in the week leading up to Christmas.

An all-time spending record on December 15, with shoppers spending $913 million, marked a 21 percent increase from purchases made online the same day a year earlier. Cyber Monday, the Monday after Thanksgiving, was the second highest-grossing day for online sales this year, with $887 million spent online, a 5 percent increase compared to last year.

“The 2009 online holiday shopping season was a positive one as its growth rate slightly surpassed our forecast and returned to solidly positive rates after nearly a full year of marginally negative growth,” said comScore chairman Gian Fulgoni. “A strong late season spending surge, propelled by effective retailer promotions, guaranteed shipping and a major snowstorm on the eastern seaboard that convinced many to shop from the comfort of home.”

Sales of jewelry and watches had dropped 29 percent in the 2008 holiday season, as the U.S. entered its worst economic period since in nearly 70 years.