As 2002 drew to a close, US online consumer sales (excluding auctions) were on track to total $74 billion for the year, according to research by comScore Media Metrix.
Despite economic uncertainty and a generally disappointing Christmas for the retail sector, online commerce experienced growth of 39% last year as the number of internet shoppers multiplied and existing users increased their spending.
A survey of the comScore Media Metrix online consumer panel revealed that “quality of life” benefits had been important factors in driving online sales. 53% of respondents said that they believed that the web was the easiest or most convenient way to purchase products while 50% were lured by the novelty value of internet shopping. Some 64% of those questioned said that they thought online shopping was a real time saver.
Despite the relative boom in the sector, many US internet users continue to have reservations over online shopping with security and privacy among their primary concerns. comScore found that 38% of internet users are still uncomfortable about disclosing their credit card information over the web while 36% expressed anxiety about the security of financial transactions. In addition, four in ten users said that they were concerned about privacy issues when they shopped online.
A separate survey by Goldman Sachs, Harris Interactive and Nielsen//NetRatings found that consumers spent more than $13.7 billion online during the Christmas shopping period. Expenditure on books, music, videos and DVDs totalled $1.9 billion, equivalent to 18% of all online sales. Internet shoppers spent $1.8 billion on clothing which had a 17.5% share while the travel market was worth $1.5 billion (14.7%).
