The numbers are in, and they look good. According to web analytics company comScore, it appears that online holiday spending rose by 5 percent this year to $27 billion for the shopping season from November 1 through Christmas Eve. For the time period from Black Friday through Christmas Eve, sales rose slightly by 3.5 percent. Consumer electronics saw yearly sales growth of slightly over 20 percent, while sales of jewelry and watches also rose.

From reports over the past few months, the numbers indicated that total online spending would be higher this year than last, when the U.S. economy was blindsided by a crippling recession. The final shopping weekend before Christmas saw a 13 percent growth rate in online spending from the previous year, and the full week posted a 6 percent yearly increase in spending, setting a one-week sales record with nearly $5 billion in spending. Black Friday and Cyber Monday also appeared to have stronger sales numbers than last year.

ComScore also reported that larger e-retailers like Best Buy and Walmart outperformed the smaller online shops. The report says that sales from larger retailers were buoyed by promotions and offers of free shipping later in the season. Social media was also used as a strategy for retailers – 28 percent of shoppers surveyed reported that social media promotions from retailers influenced their purchases.

When taking the complete picture into consideration, I think it’s important to note that these numbers are being compared to those from last year, when spending was at a low thanks to the bleak conditions of the economy. While it’s a good sign that online spending is growing, retailers still need to dig themselves out of the hole from last year’s season.

View a previously written post by Mouli Cohen about the economy