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Online Shoppers Spend $12.7 Billion to Date
ROCHESTER, N.Y. -- As of the end of last week, 27% of online consumers say they've finished their holiday shopping, compared to 31% during the same timeframe in 2003, according to the latest Holiday eSpending Report from Goldman, Sachs & Co., Harris Interactive and Nielsen//NetRatings. So far, the consumers have spent $12.7 billion online to date excluding travel.Some 23% have not yet begun their holiday shopping, while 50% have started but have not completed their holiday gift buying, the survey found. Based on last week's shopping experience, 89% of current online shoppers will continue to buy online during this holiday season. "We expect online holiday purchases to peak this week as the free shipping deadline for Dec. 24 delivery looms in mid-December," said Heather Dougherty, senior retail analyst, Nielsen//NetRatings. "Retailers are continuing to drive holiday sales through the Internet with special online-only sales and reduced-cost shipping promotions, which continue to motivate consumers to purchase gifts online."The report shows that 39% of respondents are very satisfied and 24% are somewhat satisfied with their online shopping experience. In addition, 26% of this year's holiday shoppers found it easier to find stores and products online while 2% stated online retail destinations were worse than in the previous year. Fully 27% of online holiday shoppers look to spend more than last year.When asked for the top five reasons in selecting a specific Web site versus another site for purchases, 63% said item price was most important to them; 57% attributed product selection as the next top reason, and ease of use ranked third with 56%. Shipping costs were a deciding factor for 50% of this year's holiday shoppers, and 48% said previous site registration or site familiarity was the fifth top reason for buying at a specific site. "Customer satisfaction and experience continues to be a driving factor for consumers to make online holiday purchases," Dougherty said. "Retailers' initiatives to create a user-friendly experience and provide transparency into inventory availability resonates with customers looking to complete their holiday shopping quickly and easily.""