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Nobody was expecting online shopping to be immune from the economic downturn, but most forecasts had been calling for at least a smidgen of growth. Now, even that hope is damped.
For the first 23 days of November, online sales declined 4% to $8.2 billion from $8.5 billion the same time last year, according to market-research firm comScore Inc. The firm projects that retail spending online in the months of November and December will total $29.2 billion, flat from the same period last year — a dreary sign for online retailers, many of which had grown accustomed to double-digit gains.
The figures follow numbers from October, when online sales rose only 1% compared with a year earlier.
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