Rise In Online Sales Predicted This Holiday Season
Posted on: Tuesday, 3 November 2009, 11:55 CST
Online sales this holiday season are expected to increase by 8 percent, compared to last year, to $44.7 billion.
Forrester on Monday issued a report showing its forecast of online sale in November and December to reach $44.7 billion, compared to $41.4 billion last year.
"Despite the lingering effects of the global financial crisis, the online space remains the retail industry's growth engine," Forrester said.
Forrester said online sales during last holiday season saw growth of 5 percent, compared to multiple previous years of double-digit increases.
According to Reuters, the National Retail Federation expects total holiday sales to drop by 1 percent.
In its report, Forrester said that “24 percent of online holiday buyers intend to try lower-cost alternatives to the brands they typically purchase.”
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Source: RedOrbit Staff & Wire Reports
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