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Online consumer sales totaled $2.2 billion, an all-time weekly spending record, reflecting 37 percent growth versus the second shopping week following Thanksgiving last year (week ending Dec. 7, 2001). Spending on non-travel goods and services increased 36 percent versus year-ago to $1.7 billion, while travel spending increased 41 percent to $507 million. Consistent with comScore expectations, Thursday, Dec. 12 was the peak non- travel sales day for the holiday season to date, at $288 million.
Amazon.com Inc. (AMZN), eBay Inc. (EBAY) and Yahoo Inc.'s (YHOO) "Yahoo shopping" are the three most popular online shopping destinations, Strand said. Yahoo is only slightly less popular than Amazon and Ebay.
Dow Jones Newswire on Nielsen-Netratings [nielsen-netratings.com]
So you are seeing the benefit of a larger portion of total retail sales being made on-line. Even though overall sales are down this year, you're getting a bigger share. Those of you who are doing better as compared to last year or the year before - despite the economic impact of the dot-com collapse, 9/11, Enron, and WorldCom - can expect even more success if the economy picks up next year.
So, it's a smaller pie this year, but if you're still getting a decent-sized piece of it, you'll be really happy when the pie gets bigger again.
Perhaps after the usual "post X-mas returns" we will turn on the dancing music.
Bogus Order Department was also up a few percentage points this year. Our Nigerian/Indonesian customers were feeling much more in the "giving" spirit. They tried extra hard to "give it" to us this holiday season.
I think you will see a snowball effect as more people get the habit. Once a comsumer has had a positve experience buying over the web, they will tend to do it again, so not only will the number of online consumers rise, but the range of goods they are willing to buy will increase, as will the total they are willing to "risk" on electronic transactions.
The ecommerce sites of the world have helped themselves immeasurably by (more or less) getting their own house in order too. Ecommerce sites generally are far more professional, both in looks and technology. The security fears have been largely addressed in the minds of many consumers, and potential consumers, and fulfillment is rarely an issue.
From a personal point of view, I personally bought more over the web in 2002 than in any previous year, and I know people who did a significant fraction of their Xmas shopping online. I expect 2003 to increase the trend, both for me and the market in general. Those of my clients who make sales over the web also generally did better in 2002 (one only stayed flat, due to a general collapse in thier market sector. The web side of the business outperformed the offline part though, which is still a victory for the internet)