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Online Consumers Spent $8.8 Billion in November
"ROCHESTER, N.Y. -- Online consumers spent $8.8 billion overall, excluding travel, in November, marking a 19% jump over the $7.4 billion spent online in November 2003 and a 62% increase from the $5.5 billion that consumers spent online during the 2002 holiday season, according to the 2004 eSpending report from Goldman Sachs & Co., Harris Interactive and Nielsen//NetRatings. Adult consumers spent the most on apparel/clothing, totaling $1.5 billion, the report found. The toys/video games (hardware and software) category came in second with $1 billion, while the video/DVD category followed closely behind with $882 million. The books and music categories rounded out the top five with $621 million and $481 million, respectively.Categories recording the highest growth in holiday dollars for November include toys/video games (hardware and software), video/DVDs and music. The toys/video games (hardware and software) grew 43% over last year, while the video/DVDs (hardware and software) and music categories increased 39% and 32%, respectively.As of the end of last month, 17% of consumers say they've finished holiday shopping, while 48% started but have not finished and 35% hadn't started at all.Consumers cited several reasons as to why they chose to make purchases online versus going to the stores; 36% said they purchased because prices were lower on the Web, while 34% like the wider selection of products and 33% shop online to avoid the crowds in stores.Visit Nielsen//NetRatings: www.nielsen-netratings.com "