Ecommerce Makes A Q3 Leap; Q4 & Holiday Set To Hit Record Sales; --Convenience & Price Comparison To Fuel Online Holiday Growth--.Business Editors LOS ANGELES--(BUSINESS WIRE)--Oct. 3, 2002 Ecommerce made a leap forward in the third quarter of 2002, which bodes well for a merry fourth quarter and Holiday season, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. leading e-commerce research firm, BizRate.com. Third quarter online sales reached $10.0 billion, a 37% increase over the same period last year, and Q4 online sales are expected to reach an all-time high of $16.8 billion, a 35% increase year-over-year. Better yet, Holiday spending (November 25-December 25) is forecasted to hit $8.0 billion, a 24% increase over last year, despite 6 fewer shopping days this season. The online Holiday season growth rate also compares favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to The National Retail Federation's total retail store sales forecast Sales forecast A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors. of 4 percent year-over-year during the holiday period (November & December). BizRate.com attributes this phenomenon to the fact online shoppers say their online Holiday spending will increase over last year at a higher percentage (27%) than total (online & offline) Holiday spending (12%).
Quarter Sales (in MM) Year-Over-Year Growth
Q3 2002 $10,016 37%
Q4 2002 (Forecasted) $16,817 35%
Holiday Season (Forecasted) $7,998 24%
11/25/02 - 12/25/02 Versus 11/19/01 -
12/25/01
Chuck Davis  This article or section contains information about one or more candidates in an upcoming or ongoing election.Content may change as the election approaches. Charles E. , president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BizRate.com says, "Most of the Holiday season's growth is anticipated to come from merchants selling books, apparel, DVDs, videos, DVD players A stand-alone device that plays DVDs. It contains a DVD drive and the electronics to decode the digital video. The device may play only manufactured DVDs, or it may be able to play DVD-R, DVD-RW and DVD+RW discs. DVD players are cabled to a TV or home theater system for display. and digital cameras. The most purchased toys online this Holiday will be parent-driven so educational toys What is an educational toy? ''' Toys, and educational toys, are typically built for and used by children. One could make the argument that an educational toy is actually any toy. Most children are constantly interacting with and learning about the world. and games & puzzles will be among the best sellers. However, parents will succumb suc·cumb intr.v. suc·cumbed, suc·cumb·ing, suc·cumbs 1. To submit to an overpowering force or yield to an overwhelming desire; give up or give in. See Synonyms at yield. 2. To die. to their kid's wish lists, as the third most purchased toy online will be video games See video game console. . "Q3 is traditionally a slow time for retail in general so a 37% growth rate is a good omen for Holiday 2002. We are projecting a 35% percent growth rate for Q4 as the online channel highlights price and free shipping deals. The 24x7 convenience, price comparison benefits, and increased broadband access See broadband and wireless broadband. in the US will aid retailers' online business this Holiday."
Top 5 Reasons For Purchasing Online This Holiday Season
#1 24 Hour Convenience
#2 Avoiding Crowds
#3 Faster Method of Shopping
#4 Avoid Driving
#5 Easier to Comparison Shop
(Source: BizRate.com study of 1,330 online buyers --
September 20th through September 26th 2002.)
Last year, the Holiday period (11/19-12/25) grew by 36% whereas this year it is expected to grow at the lower rate of 24% (11/25-12/25). This is largely due to a later Thanksgiving Thanksgiving annual U.S. holiday celebrating harvest and yearly blessings; originated with Pilgrims (1621). [Am. Culture: EB, IX: 922] See : America Thanksgiving national holiday with luxurious dinner as chief ritual. [Am. Pop. (11/28/02 vs. 11/22/01) resulting in six fewer shopping days. Demographic Shifts Year-Over-Year Over the years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time online shopper has been progressively mainstreaming.
Demographic Traits Holiday Holiday Holiday Holiday
2001 2000 1999 1998
% Female 56% 55% 49% 39%
Household Income
less than $75,000 41% 41% 42% 40%
1st-Time Merchant Buyer 70% 71% 67% 59%
1st-Time Online Buyer 7% 9% 8% 13%
Q3 Highlights:
Top Categories for Monthly Year over Year Sales Growth:
July August September
Highest Growth Office Supplies Sports and Outdoors Hardware
(41%) (45%) (74%)
Second Highest Food and Wine Apparel Software
Growth (40%) (35%) (67%)
Third Highest Gifts & Flowers Software Entertainment
Growth (33%) (35%) (63%)
About BizRate.com's Methodology BizRate.com monitors online sales and orders daily through point-of-sale and fulfillment surveys completed by actual online shoppers of more than 2,000 leading e-tailers online. Sales are calculated from domestic online retail sales of new products and exclude travel. For online retail sales, orders, purchase amounts, satisfaction and behavioral data... and more, contact: Helen Malani at 310/754-1280. BizRate.com's PR Team will be available (9am-6pm) throughout the Holiday Season (Nov. 25-Dec.25). |
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