• by Masha Geller , November 25, 2002

Goldman Sachs & Company, Harris Interactive, and Nielsen//NetRatings today revealed the first findings from the 2002 eSpending Report, showing that online shopping adoption continues, with customer satisfaction playing a key role in overall shopping for the second consecutive year.

"The first findings of the survey provide strong supporting evidence of our long standing ecommerce thesis that as online satisfaction increases, ecommerce would begin to penetrate the mass market and see renewed secular growth," said Anthony Noto, Internet Analyst at Goldman Sachs.

According to the report, 22% of those surveyed this past week rated customer satisfaction as better than their experience last year, helping to yield higher spending. Additionally, the average online shopper spent nearly $72 per person during the past week ending November 15, a 28% increase from the same time in 2001.

"Boosted by higher customer satisfaction rates and a shorter shopping season, early indications show shoppers are spending more and earlier this year," said Lori Iventosch-James, director of ecommerce research at Harris Interactive. "With Thanksgiving scheduled one week later and Hanukkah beginning much sooner this year, consumers are battling against time and are taking advantage of special sales and promotions."

Lisa Strand, Nielsen//NetRatings’ director and chief ecommerce analyst, added that even though Thanksgiving weekend traditionally jumpstarts the holiday shopping season, consumers had the gift of time in the past and with the shopping schedule compacted in a shorter span in 2002, many consumers have no choice but to start shopping and buying earlier this year."

Another recent research report, however, points to a somewhat slower start: comScore Networks found that online spending for non-travel goods and services increased on a sequential basis, from $905 million the week ending Nov. 10 to $976 million the week ending Nov. 17. However, year-over-year growth in non-travel spending slowed from 34% to 16% over the same weeks. According to comScore, these data suggest that the 2002 online holiday shopping season is picking up steam but still is not fully underway yet.