E-commerce spending keeps rising
December 11, 2007
It’s the time of year when online retailers sweat at the thoughts of their servers breaking. Christmas shopping puts their systems and websites under the most pressure of the year, this year they seem to be doing pretty well!
The Guardian reports that online spending hit a high yesterday at 1.09pm (GMT). In that single minute online shoppers spent £767,500 online! This surge in spending is expected to make yesterday the biggest online shopping day for Britain ever. In total, it’s been predicted that shoppers may have spent approximately £370M online yesterday. That’s an astounding figure and shows just how pervasive and accepted online shopping is.
Another report out yesterday from Aegis Group has found that price is the most important factor for online shoppers. This is something known all to well by those of us in the online travel industry and something we constantly have to keep an eye on to be competitive. In the UK, online prices are thought to be roughly 13% cheaper than normal bricks and mortar stores. Here’s the graph of what users think is important to make them shop online:
In the U.S. December 6th has proved to be the biggest online shopping day so far with a total of $803M spent. That’s 28% up year-on-year. I’d expect that to be eclipsed as we get nearer to Christmas. More than $18B has been spent so far this season.
Great news for everyone in e-commerce and online retail especially. The profits generated from this online buying spree will ensure that corporations continue their investment in their online offerings and ensure that the skill sets required will continue to be in demand.