GartnerG2 sees jump in online holiday sales
By Brian Carroll -- Furniture Today, November 25, 2001
BOSTON — Research and consulting firm GartnerG2 projects that online retail sales will get a $1 billion boost this holiday season from a drop-off in in-store purchasing.
Online sales for the five weeks before Christmas are projected to total $11.86 billion, an increase of 30% over last year. Other projections are lower. Forrester Research sees a seasonal total of $11 billion, while Nielsen/NetRatings predicts $9.9 billion.
Concerns about air travel, a sour economy and a relatively somber national mood are expected to contribute to as much as a 10% drop in overall retail sales this holiday season.
Although holiday online shopping continues to grow, the rate of growth is slowing, said GartnerG2, whose recent survey of more than 16,000 consumers indicated a 3% decrease so far in U.S. shopping as a result of the Sept. 11 attacks.
Another reason for the expected increase online is an upward trend in consumer confidence and satisfaction. Satisfaction with online retailers was much higher in the 2000 holiday season than in 1999, with 75% of buyers saying they were very satisfied with their experience, GartnerG2 said.
Will retailers be able to keep up with demand? The answer during e-commerce's first big Christmas season was an emphatic "no." This year, problems could be compounded by lack of investment in key inventory, fulfillment and replenishment systems.
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