Bullish Reports on Internet Sales
Jim Milliot -- 12/4/00
Sales over the Internet was the subject of two recently released reports, one measuring e-commerce sales in the third quarter and a second estimating online sales for the holiday period.
According to preliminary figures released by the U.S. Census Bureau, estimated e-commerce sales for the third quarter were $6.37 billion, a 15.3% increase over sales in this year's second quarter. With total retail sales falling 0.4% in the quarter, e-commerce sales represented 0.78% of total sales in the most recent period, compared to 0.68% in the second quarter.
In a study issued early last month by the NPD Group, the research firm predicted that online sales in the November/December period will hit $12.5 billion, double the sales in the comparable period in 1999. The report further notes that 38% of Internet users said they plan to buy a book online over the holiday season, making books the top product category in terms of number of buyers; travel reservations was the leading category in terms of dollar volume. On average, online holiday book buyers will buy four books via the Internet in November/December, with 71% of books bought online intended as gifts.
The study, NPD Online Holiday e-Visionary Report, also found that Amazon.com is the site that most online buyers plan to use to make a purchase. More respondents said that they intend to purchase from Amazon than from Barnesandnoble.com, eBay.com and ToysRUS.com, the second, third and fourth most popular sites respectively, combined.
Volume 246 Issue 49 12/04/2000