US consumers are expected to spend $14.8 billion online during the first quarter of this year, a marginal increase on the same period in 2002, according to the latest figures from the Yahoo!/ACNielsen Internet Confidence Index.
The spending forecast, whilst up 1.4% on Q1 2002, is down by 4.5% on the $15.5 billion spent by consumers in Q4 2002. This is due to the retail boom that is experienced in the run up to Christmas, says the report.
The figures also show that the actual Confidence Index, which incorporates views on other issues such as security, is at 111 for Q1 2003; this is down from 113 in Q4 2002 and 115 in Q1 2002. Nevertheless, the intention to shop online within the next three months is up year on year from 47% to 56%.
| Yahoo!/ACNielsen Internet Confidence Index, Q1 2003 |
| |
|
|
|
| |
Q1 2003 |
Q4 2002 |
Q1 2002 |
| Internet Confidence Index |
111 |
113 |
115 |
| Projected spending |
$14.8 billion |
$15.5 billion |
$14.6 billion |
| Intend to shop online in the next 3 months |
56% |
59% |
47% |
| |
|
|
|
| Source: Yahoo!/ACNielsen, January 2003 |
“The number of consumers turning to the internet to shop continues to increase,” said P.K. Van Deloo, brand manager at Yahoo! Shopping. “The fact that people are consuming more online and are becoming more sophisticated in their use of the internet is demonstrating how intrinsic the web is becoming to daily life and how important it is for online businesses to deliver a quality experience.”
