The survey, conducted by Javelin Research, polled 1212 people. Respondents were asked questions relating to Holiday spending, and debt.
Q: Looking forward over the next 90 days, how much do you believe you will spend online?
On average, consumers will spend $283.68 online in Q4, a 6% increase over Q3 2010, and a 3% over Q4 2009.
Black Friday and Cyber Monday Trends:
Q: Considering any purchases you expect to make, please indicate if you agree or disagree with the following statements:
Consumers are moving away from the mall-mayhem of Black Friday.
- 55% of respondents avoid Black Friday, and prefer to shop online; compared to 38% in Q4 2009.
- 59% know about Cyber Monday, an increase from 52% in Q4 last year.
- 15% will do most of their online holiday shopping on Cyber Monday, November 29, 2010; compared to 11% in Q4 2009.
- 38% will spend more online on gifts in 2010 year over 2009; compared to 27% in 2009 compared to 2008.
Christmas in July?
Q: Thinking about last year, how long did it take you to pay off last year’s Christmas/holiday purchases?
Many respondents managed their spending and did not go in debt for Christmas expenditures. 33% paid cash for Christmas 2009 purchases.
Meanwhile, many others consumers did carry debt. 39% paid for their purchases within 3 months, and 5% are still paying for last year’s purchases.
Consumers spending habits and preferences continue to shift away from credit, and move to cash. Online, where historically, only credit cards were available, many consumers are rapidly moving to online cash payments, such as eBillme. 36% used credit cards online less often over the last 90 days, in favor of non-credit payment options.
Consumers will shop online for aggressive deals, free shipping offers, in-depth product selection, and will purchase gift cards online.
Look for the next Online Spending Index early in Q1 2011.