The theme this holiday shopping season is frugality. J.P. Morgan analyst Imran Khan expects online sales to be flat this year. In a survey of U.S. consumers conducted by J.P. Morgan, nearly 30 percent of online shoppers say they plan on spending less this year during the holidays than last year.
Nevertheless, online retailers should do better than offline ones. In total, including offline shoppers, 44 percent say they plan on spending less this year (up from 33 percent who responded the same overall last year). But even among those who plan on reducing their total spending, 19 percent still think their online purchases will be higher.
And while only 12 percent of total shoppers plan on spending more money this year, that number is 32 percent for onine shoppers—slightly more than the number who are cutting back on their online holiday expenditures.
When it comes to online shopping sites, Amazon still rules, but Walmart and Target are catching up. About 50 percent of online shoppers say they will shop this year at Amazon, compared to 35 percent at Walmart.com, 32 percent at eBay, and 27 percent at Target.com. In fact, this year could be the first one where Walmart.com surpasses eBay in total number of online shoppers. The survey also indicates that Sears.com could see a 36 percent increase in shoppers. (Maybe that’s why the site went down today).
Among high income shoppers, however, Amazon is head-and-shoulders above the rest. A full 59 percent of those making more than $100,000 a year shop at Amazon. The nearest competitor in the survey attracts only 33 percent of that income group. No matter what income group respondents fall into, the single most important factor when shopping online is price, followed by selectionand familiarity with the store.
And some of us plan on spending nothing. Sorry friends and family, my gift to you will be me not asking to come live with you. Seriously people if you have to buy gifts on a credit card. Don’t.
Yes, it doesn’t worth buying gifts on credit cards.. why put yourself in debt just to please someone else..
There’s nothing wrong with buying gifts on a credit card – you just mean that people who cant afford to pay off the balance shouldnt do so
I guess the headline ‘Two thirds of people will spend more or the same as last year’ just wouldn’t have had the same alarmist charm. ;o)
Damn, you beat me to it.
Yeah – very well said – I’m sure the chart looks like this every year. 1/3, 1/3, 1/3
lol dan
well said
but the figures here for 2008 are jsut a prelude to what we’ll see next year
lol dan
well said
but the figures here for 2008 are jsut a prelude and sets the expectation and stage to what we’ll see next year
We have already seen a surge in the number of visitors that are searching Craigslist looking for bargains on our site http://www.sear...ecraigslist.com
The main keywords that seem to be getting the most hits is Clothing,Electronic game systems,Educational Toys, and Small appliances.
The economy is driving more and more people to the sites that offer greater bargains and away from the “Big Box” sites.
Have a great day!
Thats an absolute true statement. With the economy so ’steadily’ falling, who would like to splurge the green paper on shopping?
Well we all knew what it was going to be like this Christmas.
I am not surprised. Market is terrible today. People are not even sure, whether they will still have their jobs in the next few months…spending money else where is therefore out of the questions.
http://www.livbit.com
How about this headline instead?
Survey Suggests Just Over 30 Percent Of Online Holiday Shoppers Plan On Spending **More** This Year
There’s a good chance that a lot of reporters writing “glass half-empty” stories create a self-fulfilling promise of decreased consumer spending.
I am surprised. i would have expected these numbers to be higher. Does that suggest that the economy is not in as bad a shape as we thought. Or does it mean that people still haven’t learned a lesson.
we’re going to start to see more and more stories like this Erick – my bet is that unemployment his 10% sometime in the next 2 years
This is the scenario that really scares Wall Street and the politicians. If we stop consuming (and I am betting that we will) the negative deflation feedback loop will change American economic life in ways that were heretofore unimaginable.
There will be a bloodbath and some spectacular opportunities. We will eventually innovate ourselves out of this mess and maturing enabling technologies will play a foundational role.
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This sure is a nice piece of doom and gloom reporting. According to the chart more people are going to increase their spending than decrease. People are spending more! Why are you focusing on the negative? I don’t get it. It seems you guys really want there to be a terrible recession. I guess it will make for more interesting stories.
I have to agree that people will spend more online because retail is dying, especially in this recession economy.
If you are smart though, you can find a way to make money out of recession too:
http://zedomax....y-and-holidays/
Apparently, at least according to news reports, most of the best deals this year will come later in December as retailers make an even bigger push to close sales and bring cash into the bank for 2008 – to make up for the weaker performance because of the economy. But either way, the best approach to getting the best deals is just to track sales and offers, and to use coupons. Just track deals via sites like http://www.CouponsCatalog.com
wow ppl like me and my limo hire business will suffer the most
i hope you are incorrect this time. i want my website http://www.what...k.com/index.htm to prove you wrong 
does anyone know where i can find the survey where this data is sourced?
cool stats
cool
i love shopping online, and i have purchase 19 item in last year worth 11000 dollars, from the internet. i usually dont like ebay instead i use iwantwebsite.com
Well we all knew what it was going to be like this Christmas.