Holiday Online Spending to Rise Again
Oct. 25, 2010
Spending online will continue to increase this holiday season, according to research commissioned by online alternative payment company eBillme. The Rye Brook, N.Y. company’s quarterly Online Spending Index found that during the fourth quarter, consumers are planning to spend an average of $283.68 online, a 3 percent increase over Q4 2009. The Index also said 38 percent of consumers plan to spend more online for holiday gifts this year, a 9 percent increase over last year. “While consumer spending remains cautious for the holidays, our Index shows opportunities for the online retail sector,” says Marwan Forzley, president and CEO of eBillme. “More consumers will turn to the Internet for holiday shopping this year putting online retailers in a better position to attract customers and sales. The fact that 33 percent of consumers shopped without credit cards last year is evidence that consumers are approaching holiday shopping differently. They are saving and spending within their means rather than following the buy now pay later mantra. We expect to see similar shopping habits this year as the number of consumers preferring cash over credit continues to increase.” The Index polls 1,200 consumers to measure projected online spending for the quarter and the influencing factors.