Another Banner E-Com Year Expected
B2C retail revenue is supposed to ring up more than $50 billion this year, eventually doubling by 2007.
B2C retail revenue is supposed to ring up more than $50 billion this year, eventually doubling by 2007.
E-tailers who experienced the online holiday retail growth in 2002 should be prepared – analysts are already anticipating increased e-commerce spending by the end of 2003.
Excluding travel, research from eMarketer indicates that 2003 will bring in $58.2 billion in business-to-consumer (B2C) retail revenue and similarly, Jupiter Research (a unit of this site’s corporate parent) predicts $51.7 billion for the year’s online retail sales, led by 97 million consumers (59 percent of the online population).
While 2002 was a good year for e-tail – the Department of Commerce estimated $45.5 billion in e-commerce spending – the 2002 UCLA Internet Report, created by the Center for Communication Policy at the University of California, Los Angeles, noted some declines in online shopping behavior compared to surveys of previous years.
2000 | 2001 | 2002 | |
---|---|---|---|
Internet users who buy online | 45.1% | 50.9% | 39.7% |
Number of online purchases | N/A | 10.81 | 28.32 |
Average dollars spent online | $113.43 | $70.21 | $100.70 |
Source: The 2002 UCLA Internet Report |
More encouraging for 2003, were responses to a key question: When asked if their online buying is likely to increase, 71.2 percent of the 2002 respondents answered affirmatively, compared to 66.1 percent in 2001, and 54.5 percent in 2000.
The future of e-commerce continues to brighten, according to Jupiter’s research. Driven by online population growth, increased spending by buyers, and higher percentages of online shoppers (142 million consumers or 65 percent of the online population will have made a purchase online by 2007) Jupiter expects online retail spending to reach $105 billion by 2007, accounting for 5 percent of all U.S. retail spending and influencing 34 percent of all U.S. retail spending.
Jupiter found that the Internet affected $232 billion in offline spending in 2002 – excluding automobiles, prescription drugs, financial services, and travel) – and will grow to $573 billion by 2007.
More about:
Lucy helps organizations leverage knowledge for in... View Tech Talk
TVSquared is the global leader in cross-platform T... View Tech Talk
Grata is a B2B search engine for discovering small... View Tech Talk
Streaming has become a staple of US media-viewing ... Download Now
Data is the lifeblood of so many companies today. ... Download Now
This report documents the findings of a Fireside c... Download Now
Customers decide fast, influenced by only 2.5 touc... Download Now
Streaming has become a staple of US media-viewing habits. Streaming video, however, still comes with a variety of pesky frustrations that viewers are ...
View resourceData is the lifeblood of so many companies today. You need more of it, all of which at higher quality, and all the meanwhile being compliant with data...
View resourceThis report documents the findings of a Fireside chat held by ClickZ in the first quarter of 2022. It provides expert insight on how companies can ret...
View resourceCustomers decide fast, influenced by only 2.5 touchpoints – globally! Make sure your brand shines in those critical moments. Read More...
View resourceHow the sunglasses giant created subconscious brand recall value with music festival-goers through the power of strategic partnerships and experientia...
View articleCustomers appreciate surveys when there is context but how do you ensure there are no lags and loopholes? Read More...
View articleAs personalization is predictive, machine learning has started playing a central role. Nature Torch's John Ejiofor gives three ways to utilize the tec...
View articleThe idea that content is king extends to online reviews, where a new study found that consumers put far more weight in content than star reviews. Duri...
View articleSocial infrastructure company Gigya's quarterly social login report finds that Facebook accounts for more than half of social logins, and a whopping 6...
View articleWhile mobile and tablet share of traffic continues to grow, consumer behavior differs greatly across form factor and operating system, according to ne...
View articleThe global social chatter about the 2014 FIFA World Cup in Brazil is likely to surpass both the Super Bowl and the Olympics. So how can marketers capi...
View articleAt last week's ClickZ Live New York, the session "Unlocking the Secrets to Mobile Video" shared tips and tricks for getting the most out of video on Y...
View article