e-business

Valentine’s day – an online shopping mega event (just bragging)

Only a couple of weeks after the 2006 shopping season officially got over, Online spending hasn’t stopped, I can tell from my own gift store’s data that the sales are at least as many as during the shopping season if not more .

The Internet has been responsible for nearly $300 billion in consumer spending in the last year. Not only do more people make more of their purchases online, but consumers are also researching products online before they buy them at physical stores, (according to the findings from a survey conducted by the Dieringer Research Group in Milwaukee) – we built a special valentines day theme gift ideas blog which went live early january, which I guess may have helped quite a bit.

Last year, shopping trend data compiled by PayPal showed that online sales for the first two weeks of February increased 23% from 2005, with the majority of sales attributed to candy, jewelry and flowers.

In another 2006 survey conducted by the research and marketing company Questus, half of respondents said they would spend more on Valentine’s Day gifts because of the Internet. Two-fifths of respondents claimed that if it weren’t for online shopping, they wouldn’t give Valentine’s Day gifts at all. Forty percent of all Valentine gift-buyers said they would find their gifts online, and 20% who said they would shop in physical stores planned to do online research beforehand.

The same survey also showed that a majority of people would buy a greater variety of gifts if they shopped online, although flowers, chocolate/candy and jewelry/watches still made the top of the list.

Cool, huh? :B

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