Economy To Significantly Slow US Online Holiday Sales
Please note it is your responsibility to evaluate the accuracy, completeness and usefulness of any information, opinion or advice contained in the content below.eBusiness & Channel Strategy Professionals Need To Focus On Customer Retention
US online retail sales this holiday season will reach $44 billion, a 12 percent increase over last year and the slowest growth rate to date, according to Forrester Research, Inc. (Nasdaq: FORR). This year’s weakened growth is indicative of the difficult economic environment catching up with formerly resilient Web buyers.
Although US consumers are pessimistic about the health of the economy, they expressed a marked interest in the ability of the Web to save them money. Forty-eight percent of consumers surveyed, compared with 41 percent in 2007, said that they can find the best values and deals online. Additionally, 36 percent of consumers said that they would be more likely to shop online due to high gas prices, compared with 22 percent who expressed the same sentiment last year. Forrester expects that the majority of holiday online sales will be driven by shoppers who have previously purchased online, rather than first time online buyers.
“While eCommerce has traditionally been resistant to negative offline trends, growing concerns about the stability of the economy are finally affecting consumers’ online shopping decisions,” said Forrester Research Principal Analyst Sucharita Mulpuru. “This is going to be a very competitive online shopping season, so retailers should take immediate steps to bolster their customer retention strategies in order to ensure repeat purchases.”
More than two-thirds of consumers surveyed said that they are planning to spend more or about the same online as they did last year. Core holiday product categories such as clothing will remain top choices for online buyers, as well as books, DVDs/videos, music, gift certificates, and toys. Respondents also indicated that they will be seeking free shipping offers more often this year than last.
“A main attraction of the online shopping environment is the breadth of information that it offers,” said Patti Freeman Evans, Forrester Research Vice President and Research Director. “Retailers should expand their use of online marketing tactics on search engines and comparison-shopping sites since shoppers are likely to be researching the Web more thoroughly when deciding on this year’s holiday gifts.”
This year’s annual holiday forecast was a collaboration between Forrester Research and JupiterResearch, now a Forrester Research company. Two surveys were conducted to measure the attitudes and expectations of online consumers during the upcoming holiday shopping season, which was defined as the months of November and December. The first survey was fielded in September 2008 and received 2,153 individual responses. The second survey was fielded in early October 2008 and received 1,042 individual responses.
Forrester Research, Inc. is an independent research company that provides pragmatic and forward-thinking advice to global leaders in business and technology. www.forrester.com.
Related Articles on MyPersonalCMO.com
- How to improve your website conversions
- How to Stay in Touch With Your Customers During the Holidays
- Marketing During a Recession
- Marketing During a Recession – part 2
- Tis the Season for Marketing Planning
Latest Marketing Research Insights from eMarketer
- Will Paid Content Put Publishing Back in the Black? 8 Mar 2010 at 9:01pm
- Social Media Complicates Work-Life Balance 8 Mar 2010 at 9:01pm
- Staying Relevant with Targeted E-Mail 7 Mar 2010 at 9:01pm
[CaRP] Unknown option (corder). Please check the spelling of the option name and that the version of CaRP you are using supports this option.
eMarketer Articles
Internet, Business & Ecommerce Statistics: Email Marketing & Online Market Research
Recent Articles on MyPersonalCMO.com
- Can You Really Use Articles To Build Your List?
- How To Grab Your Readers Attention With Your Subject
- How To Get Your Subscribers Begging For More
- How To Build A List Of Eager Subscribers
- 7 Ways To Make Money Using Nothing More Than Your List
- 5 Things To Consider When Publishing A Newsletter
- 4 Ways To Get Your Opt In Subscribers To Trust You Quickly
- 4 Crucial Things You Need To Do To Build your List
- The 3 Things To Avoid When Emailing Your List
- 3 Quick And Easy Ways To Build A Profitable Opt In List
Free Newsletter
Sign up for My Personal CMO's free daily newsletter. It is filled with tips and ideas on Business & Marketing Strategy, Brand Positioning, Market Segmentation, Niche & Target Marketing, Product & Category Marketing Management, as well as online and traditional marketing Best Practice, including Affiliate Marketing, Email Campaigns, Online Advertising, PR, SEO, CRM and other latest technologies and trends.
Your email address will be kept confidential and won't be shared. It is also easy to unsubscribe at any time.
If you enjoy this site, you are sure to enjoy My Personal CMO newsletter too !
Site Search Tags:
Business Strategy, HR Management, Marketing Strategy, Brand Positioning, Market Segmentation, Market Share, Niche Marketing, Product & Category Marketing, Sales & Marketing Channels, Strategic Alliances, Target Marketing, Marketing Tactics, Advertising & Promotion, Marketing Tools, Online Marketing, Affiliate Marketing, Digital Information Products, Email Marketing, Online Advertising, Google Adsense, Google Adwords, Public Relations, Search Engine Optimization, Sales, Electronic Commerce, Lead Conversion.
Share and Enjoy:
December 21 2008 06:07 am | Customer Service and Market Trends
