Holiday E-commerce to Hit $38.5 Bil.

E-commerce spending during the 2010 holiday season is expected to reach $38.5 billion, up 14.3 percent from 2009, marking the second straight year of double-digit e-commerce growth, according to a new forecast from eMarketer.

“Holiday shopping is ideally suited to the Internet,” said Jeffrey Grau, principal analyst at eMarketer. “Consumers appreciate the convenience and product selection online, as well as the abundance of resources available for finding good deals, especially for cost-conscious shoppers trying to weather the tough economy.”

Strong online holiday sales will push annual e-commerce sales to $162.4 billion for full-year 2010, up 12.7 percent over 2009.

Online holiday sales will represent 23.7 percent of online retail sales in 2010, underlining the importance that November and December have on retailers’ annual e-commerce sales.