THE 2009
HOLIDAY
SPECIAL R EPORT:
E-Commerce Jingles All The Way to the Bank
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HOLIDAY
REFLECTIONS:
A New Perspective
The holidays mark a time for reflection in both business and personal
lives. We pause to take stock of where we have come and to ponder
where we are going. What happened last year, what can we expect in
2009 and where will we land in 2010?
Each of these questions are that much more important as retailers and marketers
enter a new marketplace, drastically altered by the effects of a recession. Last year in
2008, for the first time in 20 years, we saw an unprecedented decline in holiday sales
across the board.1 Economists report that consumer behaviors are forever changed;
new trends in spending habits (thrifty is in) and online shopping—price comparison,
product reviews and dedicated customer support—have become the norm. In this
new (online) landscape, retailers have an unprecedented opportunity to chart a new
path this holiday season and beyond.2
Now is the time to move forward—it’s time to adapt to new consumer behaviors and
adjust strategies accordingly. We welcome you to the new marketplace this holiday
season. And do you know where that is? It’s online. And it’s social.
Last year e-commerce drew in 25.5 billion dollars.3 What this figure means depends on
the context. When compared to 2007, online sales were down three percent. A small
blip from a global economic slow-down when you take a look at the big picture: long-term
trends show online sales have increased over 112 percent since 2001 (Figure 1). And as
consumers spend more time online, online spending is expected to continue on this
path. Now that’s a trend to follow.
1
LONG -TERM TRENDS: Online Holiday Spending
Figure 1. LONG-T