Thirty-five percent of all Americans report being very satisfied with their online holiday shopping experience, according to the eSpending Report released by Goldman Sachs, a leading global investment banking and securities firm, Harris Interactive, a worldwide market research and consulting firm, and NetRatings, Inc., the fastest growing Internet audience measurement and analysis firm. Additionally, 17 percent stated that their holiday shopping satisfaction is higher this season than last year.
“Quality customer service has not been impacted by the dot-com shake out or economic conditions this year and remains a key factor for online shoppers,” said Sean Kaldor, vice president, analytical services, NetRatings.
According to the Nielsen//NetRatings Holiday eCommerce Index, traffic to ecommerce Web sites jumped 14 percent during the second week of November, signaling the beginning of the online holiday shopping season.
Competitive Pricing Drives Shoppers Online
Lower prices and the ability to easily compare products and item cost on the Internet led 39 percent of Americans to shop online this past week. Sixty-seven percent of those surveyed said pricing was their main purchasing factor, while 59 percent cited product selection. Additionally, 26 percent of shoppers indicated that shipping costs are impacting their purchasing decisions this season.
“Etailers offering free shipping promotions and competitive pricing have much to gain from luring price-conscious shoppers,” Kaldor continued. “Holiday shoppers feeling the effects of the slowing economy this season are watching their budgets and looking for the perfect gift with the right price.”
One in Three Americans Have Started Holiday Shopping
Findings from the survey revealed that one in three Americans have started their holiday shopping as of the week ending November 9 (see Table 1). Eleven percent of respondents indicated that they have completed their holiday shopping.
“With the holiday season starting in the second week of November this year, we can expect online activity to grow steadily as the season progresses,” said Lori Iventosch-James, director of ecommerce research, Harris Interactive. “The overall outlook for the holiday season is positive, as popular online categories such as home and garden, toys and video games have already emerged as hot gift categories this season.”
Table 1. Online Holiday Shopping Barometer, Week Ending November 9 (U.S.)
Week Week Week
Ending Ending Ending
10/26 11/2 11/9
Finished Shopping 8% 9% 11%
Started, but Not Finished Shopping 23% 31% 35%
Have Yet to Start Shopping 69% 60% 55%
Source: Goldman Sachs, Harris Interactive & Nielsen//NetRatings, November
About eSpending Report
The eSpending Report by Goldman Sachs, Harris Interactive and Nielsen//NetRatings is based upon a weekly national survey of 500 online shoppers randomly chosen from Harris Interactive’s multimillion-member panel of Internet users. The survey data is weighted to represent the online population and has an overall precision of +/- 4.4 percent, which varies by question. The eSpending report offers weekly intelligence on online shopping and spending by market segment and tracks consumer attitudes and motivations that drive online shopping.
About Goldman Sachs
Goldman Sachs is a leading global investment banking and securities firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
About Harris Interactive(SM)
Harris Interactive (Nasdaq: HPOL) is a worldwide market research and consulting firm, best known for The Harris Poll (R) and its pioneering use of the Internet to conduct scientifically accurate market research. Strengthened by its recent merger with Total Research Corporation, the Company now combines the power of technology with international expertise in predictive, custom, strategic research. Headquartered in the United States, with offices in the United Kingdom, Japan and a global network of local market and opinion research firms, the Company conducts international research with fluency in multiple languages. For more information about Harris Interactive, visit [http://www.harrisinteractive.com]. EOE M/F/D/V
About NetRatings, Inc.
NetRatings, Inc. ([http://www.netratings.com]) is a leading provider of Internet audience measurement information and analysis. Its technology driven products and services enable customers to make informed business-critical decisions regarding their Internet media and commerce strategies. NetRatings has strategic relationships with both Nielsen Media Research, the leading source of television audience measurement and related services in the U.S. and Canada, and ACNielsen, a leading provider of market research information and analysis to the consumer products and services industries. Worldwide, NetRatings services measure the Internet experiences of more than 225,000 Internet users in 29 countries.
Through strategic partnerships between NetRatings, Inc. (Nasdaq: NTRT), Nielsen Media Research and ACNielsen, the Nielsen//NetRatings audience measurement service collects real-time data from more than 225,000 individuals with access to the Internet in 29 countries around the world. Nielsen//NetRatings uses unique technology capable of measuring both Internet use and advertising to provide the most timely, accurate and comprehensive Internet usage data and advertising information in the global marketplace. For more information, please visit [http://www.nielsen-netratings.com].