Retailers shift their ad spending from TV, radio and print ads to digital ads.
Online retail spending increased 25% this holiday season over last year, reaching $23.2 billion from $18.5 billion, according to the holiday eSpending Report from Goldman, Sachs, Harris Interactive, and Nielsen/NetRatings. The biggest category: apparel.
Online retail spending increased 25% this holiday season over last year, reaching $23.2 billion from $18.5 billion a year ago, according to the holiday eSpending Report from Goldman, Sachs & Co., Harris Interactive, and Nielsen/NetRatings.
The 2004 eSpending report is based on weekly surveys of more than 1,000 respondents. It reports that online consumers spent the most on apparel/clothing, $3.8 billion, or 16% of total online revenue, during the 2004 holiday season. The toys/video games category was second with $2.5 billion, or 11% of online revenue, while the consumer electronics category rounded out the top three with $2.3 billion, or 10% of total online revenue.
Categories with the highest year-over-year growth in holiday dollars included jewelry, up 113% to $1.9 billion; flowers, up 59% to $530 million; and computer hardware and peripherals, up 30% to $2.1 billion.
The 2004 eSpending report also showed that the majority of online consumers were satisfied with their web shopping experience: 37% were very satisfied, 24% were somewhat satisfied. In addition, 30% felt this year`s online shopping was better than last year’s.
36% of online shoppers made their purchases on the web to avoid crowds. 36% also cited finding a lower price online was the reason they shopped on the web. 33% cited the wide product selection as the reason for shopping online.