In its second-largest acquisition, Amazon buys the company for $970 million.
Early indicators from Goldman Sachs, Harris Interactive and NetRatings’ 2001 Holiday eSpending Report show that brand is a strong driver of online sales and that consumers haven’t started holiday shopping yet.
Goldman Sachs, Harris Interactive and NetRating will track holiday spending in the 2001 Holiday eSpending Report. Early indicators say brand is a strong driver and that consumers haven’t started holiday shopping yet.
The eSpending Report is based on a weekly national survey of 500 online shoppers randomly chosen from Harris Interactive’s multi-million member panel of Internet users. The survey tracks online shopping activity and spending by market segment, as well as consumer attitudes and motivations that drive online shopping in 14 key e-commerce categories.
Initial findings reveal that 69% of Internet users have not even started shopping for the holidays. Among those who have started online shopping, 63% shopped at a web site based on past experience. Nearly a quarter said they shopped at a site based on its offline retail presence, suggesting that brand recognition is a key driver in online shopping habits. 28% of respondents shopped at a site they found through a search engine or portal. Despite expectations that consumers would change their shopping behavior following the terrorist attacks in September, only 5% said they would shop more online.