Online Shopping Spree - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business & Finance
News
12/30/2004
04:30 PM
50%
50%

Online Shopping Spree

The holiday season saw Internet retailers ring up their best sales summaries ever

Online retail sales skyrocketed this holiday season, as consumers increasingly took to shopping from the comfort of their homes. Online sales using Visa-branded cards for the week ended Dec. 26 were $1.8 billion, up 58% over the year-earlier period, while the number of online transactions reached 24 million, up 43% from a year ago, according to Visa USA's SpendTrak report.

The data indicates a shift toward more last-minute shopping online. In 2002 and '03, the peak period for online sales occurred two weeks after Thanksgiving, then dropped off sharply, according to market-research firm ComScore Networks. In 2004, Visa's peak online sales also took place two weeks after Thanksgiving, but there was no drop-off afterward; sales stayed at or near peak level until Christmas.

Also, Amazon.com Inc. reported last week that the period between Nov. 25 and Dec. 24 was the "busiest holiday season ever." The online retailer said it set a single-day record this season of more than 2.8 million units ordered, or 32 items per second. On its peak day, Amazon shipped more than 2 million units to 217 countries, the company said.

The trend toward last-minute online shopping reflects the use of better forecasting techniques by retailers, says David Schatsky, senior VP at market-research firm JupiterResearch. Retailers are becoming more sophisticated at tracking online sales to determine how much inventory to keep on hand, he says. That, in turn, lets them ship later in the season and offer consumers later cutoff dates for making online purchases.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Commentary
Enterprise Guide to Edge Computing
Cathleen Gagne, Managing Editor, InformationWeek,  10/15/2019
News
Rethinking IT: Tech Investments that Drive Business Growth
Jessica Davis, Senior Editor, Enterprise Apps,  10/3/2019
Slideshows
IT Careers: 12 Job Skills in Demand for 2020
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/1/2019
Register for InformationWeek Newsletters
Video
Current Issue
Getting Started With Emerging Technologies
Looking to help your enterprise IT team ease the stress of putting new/emerging technologies such as AI, machine learning and IoT to work for their organizations? There are a few ways to get off on the right foot. In this report we share some expert advice on how to approach some of these seemingly daunting tech challenges.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll