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12 November 2009
$44.7 Billion Projected in Holiday Online Sales
October's out of the way, which means more holiday research is pouring in!
Forrester Research is forecasting an 8% increase in online sales this year over last year's total. That's $44.7 billion in Web sales!
Internet Retailer, which reported on Forrester's findings, said the increase demonstrates a clear transition to Web shopping.
"That would represent a continued shift of shopping to the Web, as the National Retail Federation has forecast total retail sales will decline 1% this holiday season."
Sucharita Mulpuru at Forrester said online shopping "remains the retail industry's growth engine" despite a slower economy!
Some other findings from the report:
- 94% of consumers who made an online purchase in the past three months plan to shop on the Web during the holiday season. (That's a 92% increase over last year!)
- 61% of online consumers say they shop online because they find products there they can't find elsewhere.
- 52% of respondents said they shop online because it's easier to compare prices.
- 52% said they're using the Web for holiday shopping to avoid crowds at the stores.
Whether it's for convenience, discounts or unique products, consumers are going to be spending their money online this holiday season. There's still time to create a unique and powerful website presence for business owners. Adding a high functioning e-commerce tool to the site is essential to get a piece of this uptick.
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