Online Spending Hits All Time High this Holiday Season

The economy is in shambles, at least that's the popular tune, so you'd expect people to spend less this holiday season. That sounds especially true considering the sheer amount of people that did not get an iPhone.

But that's not entirely true. Actually, at least in the US, online spending is at an all time high and has seen a 15 percent increase.

If anything, more and more people are spending online, Black Friday as well as Cyber Monday spending grew by 26 percent and 22 percent respectively.

In total, $35 billion, €26.7 billion were spent online since November and until Christmas day. $2.8 billion, €2.14 billion of those were in the last week alone, a 16 percent increase over the same period in the previous year.