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Online Spending Expected To Break Records
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msg:4234564
 5:33 pm on Nov 24, 2010 (gmt 0)

Online Spending Expected To Break Records [news.cnet.com]

According to ComScore, consumers spent $9.01 billion during the first three weeks of November, representing a 13 percent gain over the $7.95 billion spent during the same period last year.

For the months of November and December combined, ComScore is forecasting $32.4 billion in online spending. Last year, consumers spent $29.1 billion during that two-month holiday shopping period. ComScore also said that from January through October, online consumers spent $109.9 billion, representing a 9 percent gain over the $100.7 billion they spent during the same period last year.

"We are seeing online spending surpass the totals we saw in 2007 prior to the recession," ComScore chairman Gian Fulgoni wrote in a statement, "and expect sales this holiday season to be the highest on record."

 

BillyS




msg:4234700
 10:49 pm on Nov 24, 2010 (gmt 0)

Most people are very comfortable order goods over the Internet. Imagine what will happen when the recession is over.

Tor




msg:4234868
 11:54 am on Nov 25, 2010 (gmt 0)

What recession? There is no recession in Norway. :)

jsinger




msg:4234914
 3:01 pm on Nov 25, 2010 (gmt 0)

Total sales up 9% perhaps but number of sellers up 20% or more in our niche.

Wlauzon




msg:4235006
 7:36 pm on Nov 25, 2010 (gmt 0)

What recession? There is no recession in Norway. :)


Norway has oil and polar bears.. well oil at least :)

Although online sales will probably hit a new record, it is still less than (I think...) 3% of the total retail spending in the US.

CainIV




msg:4235076
 11:47 pm on Nov 25, 2010 (gmt 0)

Norway has oil and polar bears.. well oil at least :)


I wouldn't be advertising that to everyone :)

tootalldave




msg:4235359
 6:19 pm on Nov 26, 2010 (gmt 0)

I wonder what percentage of the orders are being placed or will be placed by the new cell phone systems that most people seem to be using.

tootalldave




msg:4235367
 6:27 pm on Nov 26, 2010 (gmt 0)

To answer my own question:
“From the retailer standpoint, this will definitely be the next big thing,” said analyst Sucharita Mulpuru of Forrester Research Inc. “People will say, ‘I’ll buy it on the way home.’ It has a time-shifting and place-shifting capability.”

More than half of Web shoppers own a Web-capable phone, and 14 percent of them have used the device to shop, a Forrester Research report said in February. Five percent of mobile shoppers have purchased apparel.

So far, traffic and purchases from mobile devices is minor compared with e-tail and brick-and-mortar stores, typically less than 2 percent of online sales, but it is expected to grow quickly as more retailers offer the capability.

jsinger




msg:4235388
 7:05 pm on Nov 26, 2010 (gmt 0)

I'll start listening to Forrester Research reports when they publish a report admitting their ecommerce research has often been worthless. It certainly was back in the Dot Com bubble days when their name was often linked to overhyped tech stocks.

Do you think Forrester is honest in stating: "More than half of Web shoppers own a Web-capable phone, and 14 percent of them have used the device to shop."

I guess I **might** have a "web capable" phone but I haven't signed up for that costly service. By "shop" do they mean glancing at products or actually placing orders by phone?

If shopping by phone were such a big deal how come there is so little discussion of it on this group?

Traffic on our site from phones is still <1%. Orders from phones are virtually nonexistent as far as I can tell. Our clientele is mostly over age 21 and fairly non-techie. But that's typical of the great majority of American consumers.

tootalldave




msg:4235603
 10:22 am on Nov 27, 2010 (gmt 0)

We currently have traffic of over 10% from Iphones.
Sorry if it seemed to set a fire, but the fact is
shopping by phone a device that most people own is the future.
It's just a matter of time before most phones are enabled and users learn how to use them.

jsinger




msg:4235845
 6:00 am on Nov 28, 2010 (gmt 0)

Traffic on our site from phones is still <1%. Orders from phones are virtually nonexistent as far as I can tell. Our clientele is mostly over age 21 and fairly non-techie. But that's typical of the great majority of American consumers.

Just checked our latest GA stats and it does look like the Ipad is doing us some good. Do those count as "phones?" Just over 2% of our traffic comes from phones and I'm now seeing some sales too.

tootalldave




msg:4235900
 11:57 am on Nov 28, 2010 (gmt 0)

Actually i feel like have not keep up with this as i should.
What really shook me up a little was when i was in a meeting with Wells Fargo and they went to pull up my website that i was promoting on their phones. I put my hands together and prayed that it would not look like a jumbled up website, thank god it displayed fairly well. It almost seems that the new systems that the major cell phone companies are releasing are computers with phone capabilities.

If you look back 15-20 years, not to many people were using cell phones, now just about everyone has one. You can imagine what the future will bring in the next 5 years.

One thing that i have noticed that as online purchases grow, so do the amount of sellers. Another issue is most of the big corporations that once blew off the internet are also now selling online.

So yes, consumers are buying more on the internet and the technology that's out there could cause a sharp increase in online purchases in the years to come. This makes me want to look for an old book i had read in the 90's called the "Road Ahead" by Bill Gates, to see how many of his predictions came true and what young Bill Gates expected ahead.

jsinger




msg:4235976
 6:27 pm on Nov 28, 2010 (gmt 0)

I used to research the latest phones at my son's sports.

The parents in the stands rarely had anything more than basic cell phones but the kids had the latest models which I sometimes asked to try. Our site looked OK, but shopping with it (or should I say, actually buying something) would be a chore.

I haven't followed the phone thing much either. I've been hearing about the dawning hand-held revolution in ecommerce for years. Our stats for the past six months suggest it may finally be arriving.

fabulousyarn




msg:4236319
 4:22 pm on Nov 29, 2010 (gmt 0)

We are getting orders and doing LOTS of customers service via both blackberry and iphone and droid, mostly.

j

dickbaker




msg:4236353
 5:39 pm on Nov 29, 2010 (gmt 0)

Not a single order today so far. A few this weekend.

HRoth




msg:4236449
 9:40 pm on Nov 29, 2010 (gmt 0)

No evil eye, this has been a very good day for me, but because of the size of the orders rather than the number. I was wondering how other people were doing today.

dpd1




msg:4236500
 12:33 am on Nov 30, 2010 (gmt 0)

A whopping one order today. lol But that's OK. I don't sell stuff that is typically gift material. Overall it's been a decent month. Probably raise my prices a little at the end of the year though. I'm slowly trying to phase out the cheapskates and focus more on the people with some bucks that want quality.

Personally, I don't see what the big deal is. I saw better deals on my sites I buy from a couple months ago, then I do today. I went by the mall on Friday and the lot was fairly full, but not crazy full. No traffic backups or anything. Other years it has been totally backed up.

rjwmotor




msg:4236569
 4:35 am on Nov 30, 2010 (gmt 0)

Average to slow for us today. Every year I get my hopes up that this will be the "cyber monday" that I do astronomical numbers. Have to wait til next year...

jsinger




msg:4236589
 6:11 am on Nov 30, 2010 (gmt 0)

Saturday and Sunday had been awful. So I was hoping customers were holding off until Cyber Monday.

But today we had an average number of sales. At least most were big. Had one phone caller ask about Cyber Monday specials so I gave her free shipping on a fairly small purchase.

Christmas is always a slow season in our field. The few gift items that we sell are doing very poorly this year.

jsinger




msg:4236591
 6:38 am on Nov 30, 2010 (gmt 0)

Should add that while our sales were nothing to rave about for CM, traffic was up nicely.

tootalldave




msg:4236622
 8:10 am on Nov 30, 2010 (gmt 0)

Makes me think about changing my focus to being an affiliate rather then dealing with all this P&L stuff...
...........................................................

tootalldave




msg:4236627
 8:20 am on Nov 30, 2010 (gmt 0)


I have a feeling we're going to get 8 weeks of orders packed in to the next two weeks.
Although it's necessary to make these profits to complete the year in the black, it's a real nightmare.

dickbaker




msg:4236887
 4:05 pm on Nov 30, 2010 (gmt 0)

There seem to be a lot of tire kickers. I'm getting a ton of people going to the shopping cart, but nobody buying. A few weeks back, if I had those numbers of people going to the cart, I'd be getting a very good number of sales.

ssgumby




msg:4237055
 8:46 pm on Nov 30, 2010 (gmt 0)

Wrapping up Novembers numbers, this was our best month on record. We've been up and running going on 5 years now and this month blew away all others. We are NOT a gift type site and really have very little in the way of what you would consider holiday stuff.

dickbaker




msg:4237091
 10:28 pm on Nov 30, 2010 (gmt 0)

ssgumby, do you know why?

ssgumby




msg:4237177
 2:11 am on Dec 1, 2010 (gmt 0)

dickbaker, I truly don't know yet. I know October was regressing from earlier this year, it was our slowest month this year since January. Its possible people were pushing off the purchases and it all hit in November?

tootalldave




msg:4237984
 6:49 pm on Dec 2, 2010 (gmt 0)

Had a lot of orders on Monday and Tuesday as expected.
Wednesday slowed back down to a crawl.
I haven't seen such a bad season since the US Pesidential election in 2000.
The large stores in our area like Wal-Mart and Target are offering warehouse prices right now, although they don't sell what i do, it offers a low price alternative to a shopper that is either tight on cash or afraid to spend just in case things get worse.
One news station was interviewing customers at the stores, that were doing price comparisons on their Iphones while they were shopping.

CPC_Andrew




msg:4238509
 10:12 pm on Dec 3, 2010 (gmt 0)

Are you listing on free comparison shopping engines like Bing Shopping, TheFind, and Google Product Search? These shopping sites could provide a few additional orders here and there.

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