A new forecast from Forrester Research credits greater online spending by Canadians, lower shipping costs and more selection for the spending increase.
A study by Shop.org and
The Boston Consulting Group reports that the number of online consumer orders for the holiday season grew 270%--increasing online retail revenues by 300% over last year's figures. According to the study, these results suggest that earlier projections of revenues reaching $9 billion for the two-month holiday shopping period will be exceeded.
"The tremendous surge in online retailing over the holiday season has far exceeded expectations," says BCG senior vice-president David Pecaut. "These growth figures clearly demonstrate that this year consumers were much more comfortable doing their gift shopping online and were attracted by the range of seasonal offerings from online retailers. We expect this growth curve to carry over into the new year."
Shop.org and BCG collected data from leading online retailers in gift categories for the period of November 20 to December 19. Retailers surveyed included those in apparel, books, music, home and garden, specialty foods, electronic goods and related categories, but did not include financial services and travel. In addition revenues, the also reports that the size of the average order was up 8 % from the same period last year.