2003 Holiday eCommerce Sales To Hit $12.2 Billion As High-Growth Year For
Online Retail Comes To A Close
Cambridge, Mass., November 24, 2003 – Signs of an improving economy and
increased consumer spending on nontraditional online product categories like
apparel, home dÃƒÆ’Ã‚Â©cor, and sporting goods have catapulted 2003 US online sales.
According to Forrester Research, Inc. (Nasdaq: FORR), US online sales for 2003
will reach more than $100 billion, with online holiday sales from Thanksgiving
to Christmas growing by 42 percent over last year to $12.2 billion.
“In addition to spending more money, consumers have begun to diversify
their online spending habits this year. That’s the good news for online
retailers,” said Carrie A. Johnson, senior analyst at Forrester. “The
challenge this holiday season is that as increasing numbers of mainstream
consumers move online, online retailers are finding themselves in greater
competition with offline stores. To keep shoppers enticed, online merchants must
continue to respond with promotions like free shipping and in-store
Additionally, many online retailers are offering free shipping this season,
because consumers continue to put it on the top of their shopping wish lists.
Retailers are making efforts to stimulate sales and limit redemption of these
promotions by attaching purchase minimums to their policies. In an effort to
appeal to online shoppers, Forrester recommends that retailers prominently
display delivery deadlines and shipping promotions on their home pages.