2007 Christmas Cheer As E-Commerce Booms!
Posted 17th Dec, 2007
With the continued growth of global e-commerce, it’s no surprise to see how more and more people are deciding to shop from the comfort of their own homes rather than brave the high streets and malls. As e-commerce technology has evolved, so have WebStores that offer customers a more sophisticated user experience. This has translated into more shoppers now being comfortable browsing and purchasing in a virtual marketplace.
Online retail continues to grow, with a 58% increase in year-on-year sales in 2007. Online sales during the Christmas period are no exception. This year will bring good tidings to Europe"s online retailers, who will rake in €51 billion collectively between October and year"s end — always the most important quarter for European retailers.
Forrester Research reports that online retail sales this holiday season will reach US$27 billion in the United States. Jupiter Research predicts a little more optimistically at $32 billion. It looks as if e-commerce is on the rise, with Jupiter further predicting that a record 114 million users will buy online this holiday season.
One of the key deciding factors to shop online is the abundant supply of discounts and bargains out there. Gift cards, cashbacks, and promotional discounts are some of the features of online retailing that are drawing customers into the virtual stores and weaning shoppers away from the traditional high street. Also, consumers now expect to be able to search, compare, and buy through the power of product reviews and online consumer forums.
With Christmas creating new impetus for consumers to try online shopping this Christmas, it’s sure to be the season of cheer for e-tailer’s moving into 2008.