You know it's bad with online bargain hunters just stop hunting.
AD AGE is reporting that comScore has discovered that consumer web spending dropped 4% so far in November, v. the same period last year.
Either folks are waiting for Cyber Monday/Black Monday, or the term is going to take on all new meaning. Or maybe this is just this year's version of the annual ritual where retailers complain about how bad they think holiday sales are going to be just to lower expectations.
I mean, we're talking $8.19 billion in consumer e-commerce so far this month, compared to $8.51 billion last year. I'm not completely sure AD AGE's use of the word "Crater" is truly applicable.
Except that maybe it is. During the first 10 months of 2008, consumer e-commerce sales hit $102.1 billion - a 9% increase from the $93.6 billion spent in 2007. To see such a precipitous drop in November means the sound you're hearing is the economy screeching to a halt.
Let's hope all these efforts to kick start the economy start paying dividends pretty darn quick - before Christmas gets pretty darn Dickensian.
Read more about it all, here.
Quick Links:
Generation Wow: Expanding the conversation to multi-platform marketing
BRANDING UNBOUND The Book
ADWEEK Magazines Excerpt
Rick Mathieson.com




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