While the economy is forcing many consumers to reduce their retail spending this holiday season, slightly more of them plan to do more online shopping. That's according to a report issued last week by TNS Retail Forward, along with The Conference Board.
According to the Consumer Internet Barometer, which the quarterly survey is known as, this movement is due to offers of free shipping and special deals not available at brick-and-mortar locations. It found that customers willing to spend more than $500 in stores fell five percent to 16 percent, while those willing to spend more than $500 online rose one percent to 5 percent.
“Given the current economic environment, it is no surprise that consumers are reigning in their spending and seeking bargains,” he Conference Board Consumer Research Center director Lynn Franco said in a statement. “Free shipping, exclusive online deals, coupons and discounts are among the incentives consumers will be expecting this season.” Bargain hunting will remain the driving force behind online sales, the report notes.