Online holiday spending up

Jan. 8, 2002
New York investment firm Goldman Sachs and polling organizations Harris Interactive and Nielsen/NetRatings report that Americans spent $13.8 billion online in November and December last year, with online spending rising 15% year-over-year compared with the 2000 holiday season. The report is both positive news for both just-in-time delivery fleets and carriers that haul products from the manufacturers
New York investment firm Goldman Sachs and polling organizations Harris Interactive and Nielsen/NetRatings report that Americans spent $13.8 billion online in November and December last year, with online spending rising 15% year-over-year compared with the 2000 holiday season.

The report is both positive news for both just-in-time delivery fleets and carriers that haul products from the manufacturers to distribution centers.

"Online holiday spending continued its growth, despite pressures from the slowing U.S. economy. However, the 15% increase is more modest than the higher gains experienced in seasons past," said Lori Iventosch-James, director of electronic commerce research at Harris Interactive.

Harris Interactive and Nielsen/NetRatings gained their data via a monthly survey of 36,000 Internet users called eCommercePulse. The survey data is weighted to represent the online population and has an overall precision of plus or minus 4.4%.

Jupiter Media Metrix, a New York-based Internet analysis firm, added that, on average, 51.3-million visitors went to shopping sites each week during the 2001 holiday-shopping season – an increase of 50% compared to the 2000 holiday-shopping season and up 95% over 1999.

Charles Buchwalter, vp-media research for Jupiter, said that unlike 2000, when online shopping started strong but then fell off, online shopping this year started strong and ended even stronger.

Customer satisfaction with e-commerce services also rose during the holiday season, as 86% of online shoppers surveyed cited that they were satisfied with their experience. Of those surveyed, 24% said that they had a better experience shopping on the Web this season compared to last year, said Sean Kaldor, vice president of analytical services for NetRatings.

"While 1999 was nearly a disaster for customer service online, most major problems had been addressed in 2000. With 15% spending growth this year, 'e-tailers' were well prepared and able to deliver a consistent or even improved level of service in 2001," he said. "The future of e-tailing will depend heavily upon how well merchants are able to maintain this consistent satisfaction level despite varying levels of spending growth and in the face of increasing demands for profit."

About the Author

Sean Kilcarr | Editor in Chief

Sean previously reported and commented on trends affecting the many different strata of the trucking industry. Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

Sponsored Recommendations

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...

80% Fewer Towable Accidents - 10 Key Strategies

After installing grille guards on all of their Class 8 trucks, a major Midwest fleet reported they had reduced their number of towable accidents by 80% post installation – including...

Proactive Fleet Safety: A Guide to Improved Efficiency and Profitability

Each year, carriers lose around 32.6 billion vehicle hours as a result of weather-related congestion. Discover how to shift from reactive to proactive, improve efficiency, and...

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry during this informative webinar, where experts will share insights on competitive...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!