InternetRetailer.com - Daily News for Wednesday, October 15, 2008
Online becomes shoppers` channel of choice, but not because of price
For the first time, the web has become the preferred shopping channel for multi-channel consumers, surpassing stores, says a new consumer survey from Chicago-based consultants and researchers The E-Tailing Group Inc.
The survey of more than 1,000 adults who shop online four or more times per year and spend $500 or more annually, reports that 49% intend to do their holiday gift buying online while 44% plan to do so in-store.
Of the top five reasons that consumers say they prefer shopping online, four are more important than saving money: 88% shop online to save time, 84% to locate hard-to-find products, 83% to access greater selection, and 83% to avoid crowds at malls. 80% cited saving money.
The survey also reports, however, that 52% of consumers plan to buy fewer holiday gifts this year. The average number of gifts is projected to be down from 16+ last year to 11-15 this year.
Although these consumers plan to buy fewer gifts and spend less for those gifts, 72% vs. 65% in 2007 plan to research products online before purchasing. 91% plan to purchase the same number or somewhat more gifts online, equal to last year`s spending level.
The No. 1 reason consumers don’t buy more online is the cost of shipping, the survey reports. “Setting a fair policy then monitoring it competitively and across the industry will be even more important during this cash-challenged holiday season,” the report says.
The survey was sponsored by e-commerce technology provider Art Technology Group Inc.
