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Results
of the most recent Harris Interactive e.commercePulse study indicate that
online spending for the second quarter of the year was 18% higher than the
first quarter. In the first quarter of 2000 $7.04 billion was spent
online; in the second quarter that number grew to $8.28 billion.
Additionally, in the first quarter the ratio of dollars spent at physical
storefronts to dollars spent at virtual storefronts was $1.95; in the
second quarter it dropped to $1.74.
The survey queried 97,633 adults about purchases made online as well as
brand awareness. When asked to name a site that sells online, 24% said
Amazon, 16% said eBay, 5% said Yahoo, and 3% said Priceline. When asked
about where they’ve actually purchased online, 19% said Amazon, 16% said
eBay, 6% Barnes and Noble, and 4% said BMG.
Greg Konezny, vice president and senior e-consumer research analyst for
U.S. Bancorp Piper Jaffray, said, “We believe the market adjustment in
April was a wake-up call to both investors and online retailers, who were
put on notice that stricter expectations were being exerted on their
performance. But it didn’t dissuade consumers from continuing to use the
Internet to buy goods and services.”
The areas with the highest sales were Travel Services, Computer Hardware,
and Auctions (2.4 billion, 841 million, and 750 million respectively). The
areas with the fastest growth rate were Fitness/Sports Equipment (56%),
Home/Garden (38%), and Apparel (11%).
The survey results are good news for all retailers, not just e-commerce
sites. The survey found that consumers spent an additional $15 billion at
physical retail locations and on the phone as a result of shopping (not
buying) online.
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