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Jupiter Research Reports Online Holiday Spending to Increase 21% in 2003, to $17 Billion


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Jupiter Research, a division of Jupitermedia Corporation (Nasdaq:JUPM), today announced that it forecasts that online holiday retail sales will be $17 billion, a 21% increase over online consumer spending in 2002. Despite the fact that 46% of consumers stated they will shop more than four weeks before the holiday, Jupiter Research expects the convenience of online purchasing, the primary reason consumers shop online, to push purchasers to the very edge of the buying season.

Based on an October 2003 consumer survey fielded by Jupiter Research, Jupiter Research's new report "Holiday 2003: Online Pushes Limits of Last Minute Shopping" found that close to 40% of online users plan to do some or all of their holiday shopping online, an increase of 18% over last year. Overall, consumers are more confident in spending in the online channel; fewer consumers cited fear of credit card security this versus last year (36% vs. 47%, respectively). Half of consumers say they can find the products they are looking for online more easily than in stores and they believe they can obtain hard-to-locate products online far easier than in stores. Jupiter Research attributes these shifts in consumer attitude, and the 21% surge in holiday spending this year, to the influx of new buyers using the online channel.
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