Online Spending Up 34% in 2002
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.
According to BizRate, Q4 growth was driven by these factors:
The peak online shopping day was Monday, December 9th followed by Monday, December 2nd and Wednesday, December 11th.
- 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).
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.
here for the story (opens in new window)