Online holiday sales on track for sharp increase over 1999 levels

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Consumers' online holiday spending exceeded $1.3 billion during the week of Nov. 27 to Dec. 3, a slight increase over the previous week, with sales of apparel, toys and electronics also up over the prior week, according to a Goldman Sachs/PC Data study. The spending increase was modest after the busy Thanksgiving holiday: Overall online spending increased from $1.29 billion to $1.33 billion. That figure is 50 percent higher than the $893 million consumers spent during a comparable week in 1999.

Although online sales activity has slowed overall, the early jump in sales will result in holiday sales as a whole reaching twice their 1999 levels.

Copyright December 2000, Crain Communications Inc.

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