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BizReport : Ecommerce archives : October 07, 2009


Survey: Holiday spend could be a record low

Several holiday spending forecasts have come out so far this autumn with many reporting no rise in spending. A new forecast from Burst Media continues the trend, but also goes so far as to suggest a record low year for holiday buying. The survey found that nearly 63% of consumers plan to spend 'the same or less' than they spent in 2008.

by Kristina Knight

However, more than 85% of consumers report they will shop online over the 2009 holidays, which could be good news for etailers.

"This provides an incredible opportunity for marketers to spread their holiday message on the internet this year. Advertisers can start building awareness now, and quickly change to a more seasonal action as the holidays approach," said Chuck Moran, Chief Marketing Officer for Burst Media.

Consumers cite the still weak economy as the main motivator for spending less over the holiday season, with women expected to spend less than men.

Still there is reason to be hopeful for the holiday spending season: online shoppers. That's right, the 85% of consumers who report plans to shop online will invariably be looking for deals such as free shipping and percentages off which opens the door for loyalty program expansion and cross-sell opportunities. Most of all, since online shoppers don't necessarily wait for Black Friday to begin shopping, it opens the door for early sales - which could lead to consumers returning throughout the months of October, November and December to buy more from favored hubs.

"[It] is clear that the holiday shopping season for consumers has no definitive starting point," said Moran. "This provides an incredible opportunity for marketers to spread their holiday message on the Internet this year. Advertisers can start building awareness now, and quickly change to a more seasonal action as the holidays approach."






Tags: Burst Media, ecommerce, etailing, holiday forecast, holiday spend, online revenue, online shopping








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