Still the new kids on the block, online retailers nonetheless now have several years experience under their proverbial belts and are facing the upcoming holiday season with a sense of strong optimism.
According to a survey by Shop.org (the online division of the National Retail Federation) and BizRate.com, the eHoliday Mood Study, 67 percent of online merchants are optimistic about the 2003 holiday season-up from 60 percent last year. The survey also reveals the source of some of that optimism-62 percent of online retailers have logged revenues more than 25 percent higher than last year at this time and another 25 percent of the retailers have experienced more than 80 percent growth in 2003.
“Many retailers now have several online holiday seasons under their belts and they’ve become very skilled at attracting customers and delivering great shopping experiences to them,” says Scott Silverman, executive director of Shop.org.
According to the survey, 31 percent of consumers are planning to spend more online this year and 45 percent said they planned to do a larger part of their holiday shopping online this season.