Ecommerce 2007 Holiday Season Facts and Predictions

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What the 2007 Holiday Season Has In Store for Online Stores
According to a recent Forrester Research report, online holiday retail sales in the U.S. are expected to hit $33 billion in 2007, a 21% increase over last year’s sales.
Included in Forrester’s report were the following findings:
Apparel and Accessories: This category will top holiday shopping lists.
(80% of respondents said that they will purchase something in this category online.)
Free Shipping: A majority of consumers still have interest in free shipping promotions.
(61% of respondents said they are more likely to shop online from a retailer offering free shipping.)

Less Flare: Fewer consumers are willing to pay for extras such as gift wrapping, or overnight delivery.
(26% of respondents said they would pay for expedited delivery prior to the holiday season, down from 45% who said they would do so in 2006.)

*Forrester defines the holiday shopping season as the period between Thanksgiving and Christmas.

ComScore, Inc. also released recent information and predictions regarding the 2007 holiday season. ComsScore, a global leader in measuring the digital world, projects that the months of November and December will see approximately $29.5 billion in online consumer spending.
2006 versus 2007
Non-Travel (Retail) Spending (Excludes Auctions and Large Corporate Purchases)
2006: Jan-Oct: $77.5 Billion
2007: Jan-Oct: $93.6 Billion
(21% Increase)
2006: Nov-Dec (Holiday Season): $24.6 Billion
2007: Nov-Dec (Holiday Season): $29.5 Billion
(Projected 20% Increase)

Their reports also show that the first eighteen days of the holiday season saw more than $7 billion in online retail spending.
Holiday Season to Date, 2006 versus 2007
Non-Travel (Retail) Spending (Excludes Auctions and Large Corporate Purchases)
2006: November 1-18, $6.01 Billion
2007: November 1-18, $7.04 Billion
(17% Increase)

“The online holiday shopping season got off to a slow start in the first week of November, but it has since picked up sharply,” notes comScore Chairman Gian Fulgoni. “Sales in the first ten days of November were up modestly versus year ago, but surged to levels in excess of 20 percent by mid-November. It’s likely that warmer than average weather at the beginning of November kept people outdoors and away from their computers, weighing down early holiday season sales, especially for key online categories like apparel. The growth rates during the second and third weeks of November are likely to be better indicators of how the remainder of the season will play out.”

Through hard facts and educated predictions, this holiday season is set to top the charts for online spending. Best of luck to you and your online store this holiday season!
When may your site see its peak day of online sales? For Volusion’s own prediction for the 2007 holiday season, see “Volusion Offers Merchants a Peek at 2007’s Biggest Online Shopping Day.”

-Stacie Leonard, Ecommerce Marketing/Copywriting

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