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Online Spending Up 34% in 2002

Story:

Fourth quarter online sales increased 40% (to $17.44 billion) over Q4 2001, according to BizRate. Online sales were up 34% for the year.

There were 358.6 million purchases online in 2002, up 37% from 261 million orders in 2001.

Analysis:

According to BizRate, Q4 growth was driven by these factors:

  • Convenience (did 6 fewer shopping days encourage people to hurry up and do it online from home?)
  • Value - the perception that the web is a bargain-hunting space was confirmed (free shipping incentives helped too)
  • Women - 60% of e-commerce sales were made by women (compared to 1998, when only 39% of sales were attributed to women).
The peak online shopping day was Monday, December 9th followed by Monday, December 2nd and Wednesday, December 11th.

Sales, of course, don't tell the whole story. The average purchase price declined 10% for the holiday season and 2% for the year.

See the article for interesting tables on price declines for the different quarters.

Link:

Click here for the story (opens in new window)


 

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