Consumers spent $2.7 billion online for non-travel-related products and services during the week ended Dec. 5, up 18% over the prior week and 85% from $1.46 billion a year ago, according to the eSpending report from Nielsen/NetRatings, Goldman, Sachs & Co. and Harris Interactive. The report adds that only 31% of survey respondents said they had completed their online holiday shopping.
"With nearly seventy percent of consumers still shopping, there's still plenty of room for growth and increased spending online," said Abha Bhagat, senior analyst at Nielsen/NetRatings. "With Chanukah beginning three weeks later this year as compared to last year and retailers extending shipping deadlines, we're looking forward to continued growth and a solid overall holiday season."
Other studies have reported far smaller increases in online holiday sales. ComScore Networks Inc., for instance, reports that non-travel-related online sales rose 26% year-over-year for the week ended Dec. 8, to $2.02 billion from $1.6 billion.
The eSpending report notes that the top reason online consumers prefer to shop on the web is to avoid crowds, a reason cited by 38% of respondents. The next four reasons consumers prefer the web, and the percent of respondents citing them: Lower prices, 35%; ease of comparing products and prices, 28%; avoiding the inconvenience of traveling to stores, 28%; and a wider selection of products, 26%.
"Convenience and ease of comparison shopping have long been advantages for online shoppers," said Lori Iventosch-James, director of e-commerce research, Harris Interactive. "As the holiday season progresses, we expect to see a shift in priorities as price will decrease in importance and the desire to avoid crowds grows greater. And as more retailers are making product returns easier, either in-store or through free return shipping, online shopping is an increasingly attractive option."
The eSpending Report was based on a survey of 1,300 respondents.
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