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Bad Economy Good for eCommerce
Source: Retailer Daily
Highlights from the study findings follow. The study was conducted with 4,239 U.S. online consumers in February and March 2009.
Consumers are Spending More Time Online
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93% of online consumers are spending more or the same amount of time online shopping.
67% of online consumers are spending more or the same amount of time online browsing for coupons.
52% of online consumers are spending more or the same amount of time online visiting social networks.
The study indicates that online shopping in Q1 2009 is increasing from Q4 2008, when figures from both the Department of Commerce and comScore indicated online retail sales were declining. Retailers appear to be responding to the increasing number of US consumers visiting social networks. Pizza chain Papa John's and online consumer entertainment retailer Netflix both recently launched promotions linked to social networking site Facebook, and broadline retailer Sears recently purchased the assets of Israeli social networking engine Delver.
Some Consumers Will Buy
Big Ticket Items Online for the Right Price
When asked if aggressive online merchandising of big ticket items made them more likely to make a big ticket purchase via the internet, online consumers said they had or were planning to buy the following items:
30% of online consumers said they have or plan to purchase electronics (TVs, home entertainment).
20% of online consumers said they have or plan to purchase home improvement items.
12% of online consumers said they have or plan to purchase kitchen items.
12% of online consumers said they have or plan to purchase indoor furniture.
47% of online consumers said they are focused on saving.
Recent research by Marketing Charts and Nielsen Online into the top categories for e-commerce sales by order size indicates that the computer hardware, consumer electronics, home and garden, and computer software categories are all in the top 10.
Online Consumers Are More Optimistic About Spending
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In March 2009, 23% of online consumers said they have not changed their spending habits, compared to 16% in October 2008 and 20% in May 2008.
In March 2009, 27% of online consumers said they try to save money regardless of the economy, compared to 25% in October 2008 and 24% in May 2008.
Sears and department store retailer JCPenney may both be poised to take advantage of possible increased consumer willingness to spend dollars online. Sears recently unveiled a new unified multichannel services platform called "Shop Your Way" designed to allow seamless shopping across all Sears channels, and last month JCPenney launched a virtual runway feature on its e-commerce site that allows online shoppers to use 3-D technology to assist in making apparel purchases.





