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Ecommerce and Online Shopping
By Andy Calloway
Declining prices of internet connectivity and growing confidence in online retail stores have rocketed
online sales numbers over the past few years. It seems that every year, online sales trends increase. It
seems the consensus is,online shopping is not going away.
According to the US Census Bureau of the Department of Commerce, online retail sales accounted for
1.9 percent of the total retail sales in the fourth quarter of 2003, representing more than $17.2 billion in
revenues. This was up to 25% by 2004. It doesn't stop there. According to Forrester Research online
Christmas shopping contributed for $13.8 billion in revenues in 2006. Around the world, online retail
contributed revenues of $747.6 billion for the year 2006, representing 14.8 percent growth over the
previous year and 23.1 percent of the total retail sales for the year.
It has long been a belief that people want to actually see or experience a product before making a
major purchase. But with the growing availability of comparison shopping sites or sites that provide
product ratings, consumers are relying on online investigation to ensure that they buy the right product
for the best possible price. In fact, a survey conducted by Pricegrabbers.com in March 2008 shows that
81% of the respondents used the internet as their primary source of research for both products and
retailers when it came to shopping for home furniture and appliances. It appears a similar survey in
2006 confirms these figures when it c