Target and Toys R Us posted overall sales declines during the holidays.
The eGlobal Report from eMarketer shows Internet usage growing even though web spending is slowing due to the uncertain economic climate.
New York-based eMarketer’s eGlobal Report cites a number of indicators that illustrate an overall slowdown in the growth of online shopping, including the U.S. Census Department B2C revenue figures and the value of items sold on eBay. The report also says that Europe, considered an Internet vanguard six months ago, is now feeling the effects of a slowed worldwide economy.
Despite a slowing economy, the global appeal of the Internet continues to draw more people online, with the number of active users worldwide increasing 28% annually since 2000 reaching 640 million in year 2004. The U.S. leads with more than 100 million adult Internet users but Northern Europe continues to be more thoroughly networked with 65% of the population in countries such as Sweden online.