Magazines Archives - 2008 December

Online retailers upbeat this holiday season
Story 11- Ecommerce

ONLINE retailers are optimistic that they would continue to attract shoppers this holiday season, despite the economic turmoil that has beset the world, a study conducted by shopping search
site revealed.

The results of the eHoliday Study, released on November 5 this year and conducted for — the digital retail organisation under the National Retail Federation — showed that over half of online retailers, or 56.1%, expect their holiday sales to increase by at least 15% this year, compared to last year.

But they also forecast the increment to be less than last year’s, when 77.5% of the retailers said that they expected sales to grow by more than 15%, reflecting that while they are showing resilience,
they recognise that they are not immune to the challenges of the season, executive director Scott Silverman noted.

“Retailers will be heavily promotional to attract shoppers on a budget, but have also invested in new site features to improve the online buying experience,” he added.

Retailers, for instance, plan to continue free-shipping promotions, with 78% of those surveyed saying they planned to offer the promotion “with conditions” at some point during the festive season. Another 21.3% said that they would require a higher purchase amount for customers to be eligible for
free shipping, while 10% would cut back on free shipping without conditions.

New site features launched included improved search functions, product video and consumer reviews to provide online shoppers with more information to make buying decisions. Clearance sale and featured sale pages have also been added and enhanced, the study added.

The study attributed online retailers’ popularity among shoppers to the convenience they offer.

“As in the previous year, consumers acknowledge that the 24-hour shopping convenience is one of the main reasons why they choose to buy online,” the study revealed, adding that other reasons included not wanting to fight mall crowds, easy price comparisons, and free shipping.

“Also, nearly one in four shoppers (23.1%) says they’re spending more online due to high gas prices, more than double the number which said the same last year (9%),” the study added.

Conducted for seven years, the eHoliday study provides a snapshot of the holiday activities of online retailers as well as the sentiment of online shoppers. Conducted this year by Shopzilla’s
BizRate Research, the study surveyed 2,040 online buyers from September 29-October 3, and 60 online retailers from October 1-20.


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2008 Dec Stories:

Retailing in recession - Part 1: What’s in store for Asian retailers?

Asia arms itself against the weakening world economy

Shop-fitting & Visual Merchandising - Retail-tainment the Singapore store’s creative story

Shop-fitting & Visual Merchandising - The silent seller is worth the investment

Shop-fitting & Visual Merchandising - What better way to lure the customer in

Wine & Gourmet Asia meets with huge success despite recession

SCMLogistics World primes leaders to meet ‘the challenging time ahead’

And the exhibitors speak up

Retailers need new tactics to weather economic storm

NXP unveils car key that doubles up as credit card

Online retailers upbeat this holiday season

Aeon opens its first shopping mall in Beijing

New Zealand wine producers told to limit production

Curves are in for Prada’s fall/winter eyewear range

Nike delivers a different ball game with The Six

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