The approaching holiday season is expected to generate $68.4 billion in US online sales, according to research firm Forrester.
This year’s US holidays is expected to generate a 15 per cent increase in Internet sales over 2011′s figures and 3 per cent higher than the expected overall annual Internet retailing growth rate. US shoppers will spend an average of $419 dollars this holiday season, a 12 per cent increase on last year’s online spending.
Consumers have caught on to the many advantages the Internet offers for shopping – one key advantage being the ability to carry out competitor monitoring on product pricing before making the final purchase decision. Price-savvy savvy can then use this pricing intelligence to ensure they are getting the best deal on the Internet.
Shoppers are looking for bargains with etailers having “become synonymous with value.” Free shipping is also a big attraction with 57 per cent of US online shoppers choosing to shop more with online sellers offering free shipping; 27 per cent even add unplanned purchases to their carts in order to meet the free shipping thresholds.
The increasing number of consumers choosing the Internet over physical stores and the rise in mobile commerce will help buoy sales this year, explained Forrester analyst Sucharita Mulpuru.
In 2011 the top 500 retail websites recorded the highest holiday traffic during Thanksgiving, Black Friday and Cyber Monday, accounting for more than 170 million unique shoppers online; more than $2.5 billion was spent on the Internet during the holidays.
Pricing intelligence company Profitero works with retailers and manufacturers to help them increase sales and maximise their profits by using competitor price, promotions and stock information at scale. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email firstname.lastname@example.org.