The average American spent $77 online during the week after Thanksgiving, climbing 34 percent since the beginning of the holiday season, according to the eSpending data released today by Goldman Sachs, Harris Interactive, and Nielsen//NetRatings. Median weekly online spending per person has increased steadily since the beginning of November, peaking during the week of Thanksgiving, with shoppers spending nearly $82 at ecommerce sites (see Table 1).
The number of Internet users who bought online increased to 18 percent for the last week in November, as compared to 11 percent during the first week of the month.
The latest data also shows that 25 percent of Americans have finished their holiday shopping, while 46 percent cited that they have started, but not finished. Of those surveyed, 29 percent said they have not started shopping for gifts.
"Sales and special promotions during the last two weeks in November helped increase the average dollar spent online for shoppers," said Lori Iventosch-James, director of ecommerce research, Harris Interactive.
"The next two weeks are critical for etailers as shipping deadlines draw near for shoppers," added Iventosch-James. "As we move into the latter half of the online holiday season, online stores will pull out all stops to move inventory, enticing shoppers with last-minute sales and deep discounts."
Table 1. Median Weekly Online Spending Per Person (U.S.)
Week Ending 11/9 - Week Ending 11/16
Dollar Amount - $57.62 - $56.08
Week Ending 11/23 - Week Ending 11/30
Dollar Amount - $81.51 - $77.41
Source: Goldman Sachs, Harris Interactive & Nielson//NetRatings, November 2001
Online, Offline and Catalog Retailers Battle for Shoppers
The eSpending Report revealed that brick-and-mortar retailers continue to dominate in attracting shoppers, with consumers citing that they expect to spend 79 percent of their holiday budget shopping at physical stores (see Table 2). Consumer shopping budgets slated for online sites increased year-over-year, with shoppers planning to spend 15 percent of their holiday gift budget at ecommerce Web sites this season, compared to 13 percent spent in 2000. Shoppers intend to spend less this year buying holiday gifts through catalogs, marking 6 percent of their budget for catalog orders.
"The online channel is a significant, and growing component of the holiday economy in the United States," said Sean Kaldor, vice president of analytical services, NetRatings. "While only 1-2 percent of U.S. retail spending is on the Web, consumers expect to spend 15 percent of their holiday budget online."
Table 2. Percent of Holiday Shopping Budget Spent at Channel
(U.S., 2000 vs. 2001)
Channel - Percent of Shopping Budget (2000)
Stores - 80
Catalogs - 7
Online - 13
Channel - Percent of Shopping Budget (2001)
Stores - 79
Catalogs - 6
Online - 15
Source: Goldman Sachs, Harris Interactive & Nielsen//NetRatings, November 2001