Despite and economic slowdown Internet sales this holiday season are expected to continue to grow, capturing new customers and a larger slice of the total retail pie.
Online sales, excluding travel, are projected to grow to $13 billion, a 16% increase over the last holiday season, and four times the rate that overall retail sales are expected to grow from the fourth quarter of 2001 to the same quarter in 2002, according to a report by eMarketer.
"Online holiday spending is the bright spot in an otherwise dark picture," Dr. Nevin Cohen, a senior analyst at eMarketer, in a statement. "When overall retail sales are expected to grow only 3% or 4% over last year’s holiday shopping numbers, maintaining double-digit growth is great news."
The jump in online sales is attributed to changes in behavior and demographics, the report found.
The number of online buyers is growing, with 62 million expected to make a purchase this holiday season. And more consumers are making larger portions of their purchases online with some 3 million people making their first e-purchase this quarter.
