2003 online sales

• Jan. 5, 2004

2003 turned out to be a banner year for online retailers. Overall, there was a 27% increase in revenues generated from online sales versus the same time period in 2002, according to research firm ComScore Networks. On-line retail spending during the 2003 holiday season was up as well - to US$12.5-billion - a 29.5% increase over the same period in 2002.
 
 Online travel was the big winner, however, with a 35% increase over the same period in 2002, equivalent to US$41 billion in sales for the year.
 
 ComScore analyst Graham Mudd noted that the fastest growing areas of the online market (aside from travel) were sales of big-ticket items such as furniture, appliances and jewelry. Increased consumer confidence in these areas account for the boost in spending. "Despite some weakness earlier in the year related to the Iraq war, increased consumer experience and programs allowing buyers to interact with physical store locations for returns or service helped to drive sales," Mudd said.
 
 "Renewed performance of the apparel market after two years of flat numbers also indicates that buying patterns may be shifting again."
 
 Based on these numbers it is estimated that consumers spent an average of $200-million per day on-line throughout November and December.
 
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