MediaPost: Q2 Online Spending Growth Slows
According to BizRate.com, online sales for Q2 2003 were $11.61 billion which is an increase of 15% over last year. That's down from a Q2 2001 to Q2 2002 increase of 28%.
BizRate says this is due to people spending less per order even though the actual number or orders has increased.
"This 'go online but spend less per order' phenomenon is symptomatic of the downward pressure of price competition on the Web, and the advent of smaller transactions taking place online," said Chuck Davis, President & CEO of BizRate.com. "Shoppers are using the online channel to price comparison shop and save money, and we are beginning to see the effects."
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