eMarketer Announces Online Retail Spending Projections for 1998 Holiday Season
November 11, 1998
NEW YORK--(BUSINESS WIRE) via NewsEdge Corporation -- -Online Shopping Revenues to Reach $1.1 Billion This Holiday Season
-Will Account for 29% of Total Year Online Spending at $3.8 billion (U.S.)
Consumers will spend $1.1 billion buying merchandise online during the November-December holiday season, according to eMarketer, the authority on business online. At $1.1 billion, online holiday spending will account for more than one-fourth, or 29%, of U.S. consumer e-commerce revenues of $3.8 billion projected for the year.
eMarketer, www.eMarketer.com is a New York-based firm which aggregates news, information and statistics relating to the internet. The company's new eCommerce Retail Shopping Report was released in electronic format today with printed versions available November 17th.
"To arrive at our online holiday shopping projections," said eMarketer statsmaster Geoffrey Ramsey, "we looked at two separate research reports eMarketers eCommerce Retail Shopping Report and the just released National Retail Federation (NRF) survey conducted by Deloitte & Touche. "
The NRF 13th-annual "Mood Survey" predicts that Americans will spend a total of $173 billion this Holiday season (November-December), up 4.5% from last year. According to the survey, consumers expect to spend an average of $814 on holiday spending this year.
"Using the NRF's total holiday spending as a base, we calculated online holiday spending using key assumptions and data from the eCommerce Retail Shopping Report," said Ramsey. "The report states that 7.8% of Americans aged 14+ have already purchased a product or service online in the past year, and we conservatively anticipate that 7% will buy something online this holiday season. Among these online buyers, we expect that 9.4% of their total holiday purchases will be transacted over the web."
Total online holiday sales of $1.1 billion represent only 0.6% of total retail spending for the November-December season. Added Ramsey, "Among those shopping online, the average net consumer will spend $76, buying products online, or 9.4% of their total holiday expenditure of $814."
The eCommerce Retail Shopping Report is available at the eMarketer website. Cost $295. To order a copy, or its companion piece, The eCommerce Business Report, click here.
eMarketer is a complete, comprehensive resource for anyone who wants to know whats happening with business online. It is an easy-to-use, one-stop resource for online marketing information, statistics and news. eMarketer turns information into business intelligence.
CONTACT: eMarketer | Gary M. Galati | Director - Communications | ggalati@emarketer.com | ph: 212.677.7137 | fax: 212.777.1172
[Copyright 1998, Business Wire]
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