Americans Spent a Record 556 Million Dollars in Online Auctions, Jumping 149 Percent in Past Year, According to Nielsen//NetRatings and Harris Interactive.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--June 28, 2001 eBay (eBay, Inc., San Jose, CA, www.ebay.com) The major auction service on the Web. eBay popularized the concept of buying and selling online, and both individuals and commercial enterprises list items for sale. .com Generates 64 Percent of Total Auction Revenues for May 2001 Nielsen//NetRatings (Nasdaq:NTRT), the world's fastest growing Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the audience measurement service, and Harris Interactive Harris Interactive (NASDAQ: HPOL) is an American market research company that specializes in public opinion research using both telephone and surveys on online panels. The company is the product of a 1996 merger between the Gordon S. Black Company and Louis Harris & Associates. (Nasdaq:HPOL), a worldwide market research and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , today reported that auction sites grossed record revenues of 556 million dollars in May 2001, as eBay.com took the lead with 64.3 percent of all auction revenues. Findings from the Nielsen//NetRatings and Harris Interactive eCommercePulse, collected from a May 2001 online survey of 35,000 Web users, found that auction spending in May 2001 spiked spike 1 n. 1. a. A long, thick, sharp-pointed piece of wood or metal. b. A heavy nail. 2. A spikelike part or projection, as: a. 149 percent to 556 million dollars from 223 million dollars in May 2000. Auction revenue accounted for more than 10 percent of total eCommerce See e-commerce. spending in May 2001, rising from eight percent the previous year. "Auctions have grown from a niche clientele of collectors to become a mainstream vehicle for online purchases," said Sean Kaldor, vice president eCommerce, NetRatings. More than 6.2 million surfers
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Total eCommerce spending for May 2001 increased 104 percent to nearly 5.4 billion dollars, as compared to 2.6 billion dollars the previous year. eBay Leads Category eBay led the online auction category in May, accounting for 64.3 percent of total auction revenue. uBid followed with 14.7 percent while Egghead.com and Yahoo! Auctions each took 4.0 and 2.4 percent, respectively. Rounding out the list, Amazon.com (Amazon.com, Seattle, WA, www.amazon.com) The largest online shopping site and one of the most widely known e-commerce sites on the Web. Founded by Jeff Bezos in 1995, it had 11 employees by year's end. Within four years, it had more than 1,600 employees and four million customers. accounted for two percent of overall auction revenues. "eBay has done an excellent job converting a very high percentage of their shoppers into buyers and keeping customers extremely satisfied at the same time," said Kaldor. "This has enabled them to dominate the online auction category with four times more revenue than their next closest competitor."
Table 1. Top Auction Sites Ranked by Revenue Share, May 2001 (U.S.)
Auction Site(a) Revenue Satisfaction Conversion
Share Rate Rate
1. eBay.com(b) 64.3% 8.42 22.5%
2. uBid.com 14.7% 7.87 11.0%
3. Egghead.com (Onsale.com) 4.0% 7.75 8.0%
4. Yahoo! Auctions 2.4% 7.84 4.4%
5. Amazon Auctions 2.0% 7.64 6.5%
Source: Nielsen//NetRatings & Harris Interactive eCommercePulse, May
2001
(a) Auction sites do not include travel related sites.
(b) Figures for eBay.com do not include figures for Half.com.
About eCommercePulse The eCommercePulse service integrates eCommerce survey data collected from Harris Harris, Scotland: see Lewis and Harris. Interactive's online panel of more than seven million users with data and insights from Nielsen//NetRatings' Internet audience measurement panel. eCommercePulse is the first single-source eCommerce intelligence service for merchants, investors and suppliers. Covering more than 300 eCommerce sites across 14 key vertical markets, eCommercePulse provides integrated monthly reports on eCommerce behavior, trends and spending (both online spending and offline spending that result from online shopping). Critical information on purchaser and revenue share, and customer satisfaction metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM. , including market-level and site-level traffic, enables companies to make informed, strategic business decisions. About Harris Interactive Harris Interactive (Nasdaq:HPOL), the global leader in online market research, uses Internet-based and traditional methodologies to provide its clients with critical knowledge concerning the views, experiences, behaviors and attitudes of people worldwide. Known for The Harris Poll, Harris Interactive has 45 years of experience in providing its clients with market research and polling services including custom, multi-client and service bureau research, as well as customer relationship management services. Harris Interactive acquired the custom research group of Yankelovich Partners in February 2001. Through its U.S. and Global Network offices, Harris Interactive conducts research around the world, in multiple, localized Translated into the spoken language of the country. See localization. languages, using its proprietary technology to survey its database of more than 7 million online panelists. For more information about Harris Interactive, please visit the Company's website at www.harrisinteractive.com or contact Nancy Wong, 716/214-7316, nwong@harrisinteractive.com. EOE EOE See: European Options Exchange M/F/D/V About NetRatings, Inc. NetRatings, Inc. (Nasdaq:NTRT) is a leading provider of Internet audience measurement information and analysis. Its products and services enable customers to make informed business-critical decisions regarding their Internet strategies. NetRatings has strategic relationships with both Nielsen Media Research, the leading source of television audience measurement and related services in the US and Canada, and ACNielsen, a leading provider of market research information and analysis to the consumer products and services industries. About Nielsen//NetRatings Nielsen//NetRatings, the audience measurement service from Nielsen Media Research and NetRatings, Inc. (Nasdaq:NTRT), collects real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. from more than 70,000 panel members in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The U.S. panel sample consists of 62,000 at-home users and 8,000 at-work users. These panels collectively represent the largest representative media research sample of Internet users Internet user n → internauta m/f Internet user Internet n → internaute m/f in the industry. Worldwide, Nielsen//NetRatings services are provided via a partnership with ACNielsen eRatings.com, a venture between ACNielsen and NetRatings, Inc., and measure the Internet experiences of more than 225,000 Internet users. Nielsen//NetRatings services use unique technology capable of measuring both Internet use and advertising to provide the most timely, accurate and comprehensive Internet usage data and advertising information in the global marketplace. Nielsen//NetRatings services leverage proprietary data-collection technology from NetRatings, Nielsen Media Research's 50 years of expertise in research and audience measurement, and ACNielsen's international leadership in supplying market research information covering more than 100 countries. For more information, please visit www.nielsen-netratings.com. Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : Please source all data to Nielsen//NetRatings and Harris Interactive. |
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