Bigger budgets, the ability to better research products and more discounts are some of the reasons why consumers are shopping online this year - reasons that have translated into a 4% increase in holiday e-commerce spending.
Six weeks into the 2009 holiday shopping season, e-commerce holiday sales are tracking one percentage point higher than a 3% increase comScore had previously forecast. So far, U.S. consumers spent $20.7 billion, a 4% increase from $20 billion U.S. consumers spent online during the equivalent period in 2008, writes RetailerDaily.
More to Spend on Bargains
Research points to a few trends that help explain the growth. comScore reports that retailers are still offering online discounts as Christmas approaches, with promotional offers rising 21% during the week ending December 13, 2009 compared to the equivalent week in 2008.
Also, a study from Compete shows that active online buyers - consumers who expect to spend more than 30% of their holiday budgets online - have bigger budgets than other shoppers. Active online buyers plan to spend twice as much throughout this holiday season ($912 on average) as other consumers (those who expect to spend less than 30% of their holiday budgets online).
Finding the Best Deal
The web is also a good tool for product research, according to the 2009 Holiday Forecast [pdf] from comparison shopping site PriceGrabber.com. PriceGrabber's study indicates 70% of consumers plan to save money by performing research and comparison shopping online this year, compared to 38% last year.