• October 14, 2008

For the first time, Internet shopping has surpassed stores as the preferred way to buy holiday gifts, according to a new study. The E-tailing Group's 3rd Annual Mindset of the Multi-Channel Shopper Holiday Survey reports that 49% of multichannel shoppers plan to do their holiday gift buying online, compared with 44% who plan to shop in stores.

And while saving money is an important factor--cited by 80% of respondents--88% say they will do so to save time, 84% to find hard-to-locate goods, 83% because the selection is bigger, and 83% to avoid crowds. "Value spending is definitely the mantra as these multi-tasking consumers watch and monitor the Web to get the best deals," the company says in its release.

The study was sponsored by the Art Technology Group of Cambridge, Mass., and included over 1,000 adults who shopped online at least four times in the last year, and who spend more than $500 annually on gifts.--Sarah Mahoney