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While Internet-based retail sales still account for only a small proportion of overall retail spending, the web is a major factor in holiday shopping, the latest sSpending Report on online shopping reveals.
While Internet-based retail sales still account for only a small proportion of overall retail spending, the web is a major factor in holiday shopping, the latest sSpending Report on online shopping from Goldman Sachs, Harris Interactive, and Nielsen/NetRatings reveals.
Consumers surveyed by the eSpending Report say they plan to spend 15% of their holiday shopping budget online. Annual web-based retail spending accounts for only about 1% of all retail spending. "The online channel is a significant, and growing component of the holiday economy in the United States," said Sean Kaldor, vice president of analytical services, NetRatings. Last year, consumers said they were planning to spend 13% of budgets online.
During the week after Thanksgiving, the average online shopper spent $77, down slightly from the previous week’s $81, but still up significantly from $57 earlier in November. The number of Internet users who bought online increased to 18% for the last week in November, as compared to 11% during the first week of the month.
The eSpending Report by Goldman Sachs, Harris Interactive and Nielsen/NetRatings is based upon a weekly national survey of 500 online shoppers randomly chosen from Harris Interactive`s multimillion-member panel of Internet users.