2002

Online Sales to Reach $13 Billion This Holiday Season

Dec. 2002

Whatever happens at Christmas this season, online sellers are likely to be the winners. According to the U.S. Online Holiday Shopping Report, online retail sales will grow to $13 billion during the 2002 holiday season, an increase of 16% from the same period last year and four times the growth rate expected for overall retail sales.

This is because more people are shopping online — more than 60 million are expected to make an online purchase in the fourth quarter. In addition, more consumers are making a larger portion of their purchases online.

The study attributes this to changing behavior and demographics. People have simply become more comfortable with shopping over the computer, where there is greater convenience and often better prices. Some prefer staying home to braving the holiday crowds.

We at the Diamond Registry have also seen an increase in on-line purchases by consumers.