The holiday shopping season is going to experience a major shift to online sales from early 2016, according to a new report.
Online sales made up a whopping 81% of holiday sales in the last 12 months.
The study also found online sales increased 30% from the prior year and generated $5 billion in online sales revenue, more than double last year’s $2 billion. Customers have a lot more access to online shopping now, they can even find online coupon codes on websites like https://www.raise.com/coupons/walmart.
It says this was thanks in part to more consumers opting for discounts when shopping online.
The report, released by the online sales research firm Technavio, predicts online sales will rise to $22.7 billion by 2016, up from $15 billion in the year before.
Here are some other major stats from the study:
The average holiday sales price is $650.
Online sales were up more than twice as much in the third quarter as last year.
The number of transactions increased more than two and a half times over last year.
The company attributes this increase to the growing popularity of discounting online and the introduction of credit card purchases.
With the increasing popularity of discounting and the ease in which you can buy with credit cards, the retailers have found an untapped market and have been forced to adapt. The Internet is now a major component of the holiday shopping experience, which gives consumers more options and more tools for their shopping. The e-commerce company has launched an online shopping program, Pay By Gift Card. The website allows customers to pay for their holiday purchases by purchasing gift cards from retailers such as Target, Walgreens, Walmart, Home Depot, Lowe’s, Bed Bath & Beyond, Sears and Staples. The program allows them to pick from a wide range of gift cards including store brand gift cards, gift certificates, grocery store gift cards and gift cards from a variety of popular retailers.
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