2nd Annual Holiday e-Spending Report Says Spending up 28% to Nearly $78 Per Person

28th Nov 2002

Goldman Sachs & Company, Harris Interactive, and Nielsen//NetRatings have revealed the first findings from the 2002 eSpending
Report, showing that online shopping adoption continues, with customer satisfaction playing a key
role in overall shopping for the second consecutive year. Twenty-two percent of those surveyed this
past week rated customer satisfaction as better than their experience last year, helping to yield
higher spending. The average online shopper spent nearly $72 per person during the past week
ending November 15, a 28 percent increase from the same time in 2001.

The eSpending Report by Goldman Sachs

, Harris Interactive and Nielsen//NetRatings

is based
upon a weekly national survey of more than 750 online shoppers randomly chosen from Harris
Interactive`s online panel of survey respondents. The eSpending report offers weekly intelligence
on online shopping and spending by market segment and tracks consumer attitudes and
motivations that drive online shopping.

“The first findings of the survey provide strong supporting evidence of our long standing
ecommerce thesis that as online satisfaction increases, ecommerce would begin to penetrate the
mass market and see renewed secular growth,” said Anthony Noto, Internet Analyst, Goldman
Sachs. “Our continued partnership with Harris Interactive and Nielsen//NetRatings to provide the
eSpending Report fulfills the immediate need to analyze online shopping trends during the most
critical time of the retail season.”


“With ecommerce continuing to grow in share and penetrating mainstream America, it’s become
more important than ever to track and examine ecommerce buying behavior,” said Lori Iventosch-
James, director of ecommerce research, Harris Interactive.
“The eSpending Report combines the brand strengths and intelligence power of all three
companies in delivering a timely and in-depth analysis of the 2002 online holiday shopping season,”
added Lisa Strand, director and chief ecommerce analyst, Nielsen//NetRatings.

First Findings for 2002 Online Holiday Season
The latest study shows an increase in online spending, with the average person spending nearly
$72 during the past week, up 28 percent year-over-year.
“Boosted by higher customer satisfaction rates and a shorter shopping season, early indications
show shoppers are spending more and earlier this year,” said Iventosch-James. “With Thanksgiving
scheduled one week later and Hanukkah beginning much sooner this year, consumers are battling
against time and are taking advantage of special sales and promotions.”

“Past trends show shopping activity take off right around Thanksgiving weekend, traditionally
jumpstarting the holiday shopping season,” added Strand. “However, consumers had the gift of time
in the past and with the shopping schedule compacted in a shorter span in 2002, many consumers
have no choice but to start shopping and buying earlier this year.”


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