With consumers’ spending power on the high street expected to be hit by a slowing economy, e-commerce is expected by some to be the one bright spot for retailers this Christmas.
IMRG released its predictions for Q4 yesterday, forecasting a 15% year on year rise in online shopping.
With this in mind, I’ve taken a look at some other predictions for Christmas 2008 for the UK and US markets…
IMRG / Capgemini:
- UK shoppers will spend £13.16bn online in the last quarter of 2008, 15% more than Q4 2007.
- This equates to £215 for every person in the UK, but represents a slowdown compared with the 54% year on year increase in 2007.
- IMRG predicts that Monday 8th December will be the busiest day for etailers, with £320m of sales. Peak web shopping times are expected between 1pm and 2pm.
- Verdict has a more optimistic outlook, predicting that Christmas online sales in the UK will hit £7bn, a 39.9% increase.
US holiday season – Forrester:
- A similar pattern is expected in the US, with Forrester predicting that shoppers will spend $44bn in November and December.
- This would be an increase of 12% over Christmas 2007, but indicates slower growth than in previous years.
- eMarketer predicts that online xmas sales (November and December) will reach $32bn in 2008, up 10% over 2007.
I’ll check again in January to see how accurate these predictions prove to be…
Internet Statistics Compendium – October 2008