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More Festive Cheer for Online Retailers
A number of US polls are forecasting record consumer retail spend in the run-up to Christmas. According to Internet information provider, comScore Networks, $6.35 billion has already been spent online during the first 19 days of November – up 23% on the corresponding days in 2005.
One single day (14 November 2006) amassed $475 million in online retail sales, and it is predicted that around $600 million will be generated next week on 'Cyber Monday' (the Monday immediately following Black Friday – the day after Thanksgiving and the ceremonial kick-off of the holiday online shopping season). comScore predicts that consumer spending could exceed $24 billion during the 2006 holiday season, representing a 24% increase on last year's sales.
However, a survey conducted by pollster Zogby Interactive indicates that some shoppers bide their time before heading to the mall or buying gifts online – 35% say they wait until some time in December to start their holiday shopping. Nearly half (49%) of those aged 18-24 don't shift into holiday shopping mode until December and they're also the most likely to put off shopping as long as possible.
The survey findings concur that online shopping trends are soaring – so long as the shipping is free (87% listed free shipping as an important factor when shopping online for Christmas presents). Two out of three shoppers say they plan to purchase at least one gift online this year, with 42% saying they plan to spend more than $200 on presents online.
comScore Networks is online at www.comscore.com . Details of Zogby Interactive's poll methodology are at www.zogby.com/methodology/readmeth.dbm?ID=1151 .
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