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E-Commerce in the US: Retail Trends

DateMay, 2005
Pages23
Price / format€770 / Hard Copy
€744 / Electronic

€744 

Report Information | Custom-Tailored Research | Product Trade Lead


Abstract:
 E-Commerce in the US, a new report from eMarketer, briefly reviews what has happened in the ten years since the first online purchase and looks ahead to the future of e-commerce, which has grown faster and more steadily than almost anyone predicted.

Long gone are the days when Web sites crashed and online retailers burned through investors' money. Today, Internet retailers offer a stable shopping environment, and many of them are enjoying a healthy profit margin. At the same time, Internet users are becoming more sophisticated in utilizing multiple shopping channels to research and buy products.

The next ten years will be marked by a deepening consumer acceptance of online purchasing. Powerful new search services will stir spending activity. Improved personalization technology will enable retailers to think more like their customers. And mobile phones, new wireless devices and multimedia messaging services will all support e-commerce.

However, one wildcard looms: online fraud. Fraud represents a tiny portion of overall online commerce, but many consumers remain uncomfortable with digital transactions and a string of negative incidents could spell disaster for retailers.

Key questions the "E-Commerce in the US" report addresses:

- What are the growth prospects for retail e-commerce?
- What are the biggest online product categories?
- What will be the fastest growing online categories?
- How do shoppers use search engines to conduct research?
- How can online marketers successfully capitalize on their behavior?
- How are online retailers driving consumers to their Web sites?
- How effectively are visitors being converted into buyers?
- And many more…

Who should read this report:

- Online Marketers
- Advertising Agencies
- Retailers
- Software and Hardware Providers
- Telecom and Internet Providers
- Financial Analysts

Sources

- American Customer Satisfaction Index (ACSI)
- American Express
- BizRate.com
- BURST! Media
- comScore Media Metrix
- comScore Networks Inc.
- ConStat
- DoubleClick
- Economist Intelligence Unit
- eMarketer
- eTForecasts
- ForeSee Results
- Forrester Research
- Goldman Sachs
- Harris Interactive
- Internet Retailer
- Ipsos-Insight
- Ipsos-Reid
- JupiterResearch
- Keynote Systems
- Millard Group
- Nielsen//NetRatings
- Pew Internet & American Life Project
- Ponemon Institute
- Shop.org
- Teenage Research Unlimited
- the e-tailing group
- The Kelsey Group
- US Department of Commerce
- USC Annenberg School Center for the Digital Future






The demographic profile of the online shopper has evolved since the early days of online shopping. In its infancy online shopping was the purview of well educated, high earning, 20- and 30- year old single, white males. Today online shoppers are closer to resembling the greater US population. Forrester Research captured the changing demographic profile of the online shopper in two years worth of recent data. Between 2003 and 2004, the average online shopper became a year younger; was more likely to be female, less highly educated, with slightly lower household income; and increasingly accessed the Internet through a broadband connection.

Online shopping is one of the most popular Internet activities and online buying one of the fastest growing Internet activities. According to A Nation Online: Entering the Broadband Age, a September 2004 report from the US Department of Commerce, National Telecommunications and Information Administration (NTIA), searching for product/service information is the second most popular online activity after e-mail or instant messaging. In 2003, 76.5% of Internet users ages 15 and over indicated they researched products online. Meanwhile, the fastest growing Internet activities between 2001 and 2003 were purchasing products/services and banking online – both transactional activities. Product purchasing increased by 8 percentage points from 44.1% to 52.1% while banking online grew by 10.4 percentage points from 17.4% to 27.8%.

Online merchants have also grown up since the days of crippling Web site crashes, severe inventory shortages and poor customer service. Internet retailers have vastly improved their logistical operations and how they market. However, in its 2005 Annual E-Commerce report, Foresee Results, a Web site satisfaction survey firm, reported some slippage in the American Customer Satisfaction Index (ACSI) score for the e-retail category. While e-retail sites boast the highest customer satisfaction score in the e-commerce sector (consisting of online retail, brokerage, auctions and travel sites), a noticeable decline is evident. E-retail Web sites, in aggregate, received a 2004 customer satisfaction score of 80, a 4.8% drop from 84 in 2003. This decline is partly attributable to Amazon.com's four-point drop from 88 to 84. Foresee notes that Amazon built its reputation on doing one thing well – selling books, CDs and videos online. But as it morphed into a large online department store, it has had trouble maintaining the same level of customer care. To keep things in perspective, even with a 4.8% drop in customer satisfaction, the e-retail category still outperforms all other e-commerce categories, and Amazon remains the gold standard of Internet retailers.










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