This season’s growth of 14.3% will bring retail ecommerce holiday season sales to $38.5 billion, up from $33.7 billion last year.
Strong online holiday sales will push annual ecommerce sales to $162.4 billion for full-year 2010, up 12.7% over 2009. Online holiday sales will represent 23.7% of online retail sales in 2010, underlining the importance that November and December have on retailers’ annual ecommerce sales.
“This holiday season consumers will open their wallets more than they have the past two years, even though they will remain extremely price-focused,” said Grau. “Online consumers have become savvy at finding coupons, comparing prices, locating cheaper product alternatives, and exchanging shopping tactics and information about bargains with peers through social media.”
Retailers have the opportunity not just to generate sales but also to gain new customers and solidify relationships with existing ones. Holiday shoppers often have to visit retailers that are new to them, giving merchants a chance to turn first-time visitors into repeat customers. Rich product information can be key to this at a time when shoppers are buying products that may be less familiar to them.
“Online retailers with product-selection guides, easy return policies, and friendly and accessible customer service representatives put shoppers at ease and turn them into lifelong customers,” said Grau.