Online retailers seem to be growing optimistic as the holiday season quickly approaches. A recent study on the expectations of online entrepreneurs and retailers suggests that confidence in strong sales this year has improved by a significant margin over the last.
According to a study BIGresearch did for Shop.org, a major percentage of online retailers expect their respective company’s annual holiday sales to grow by up to 15% or more over last year. The eHoliday Study shows that 64% or two-thirds of online store operators expect their holiday sales to bring in more revenue compared to last year, a significant jump from the 46% who expected those figures in 2009.
A closer look at the confidence of online retailers for the 2010 holiday season indicates that around 6% of people who run online companies and businesses expect “hypergrowth” of up to 75% or more this year, a decrease from the 12% who had the same expectations last year.
Clearly the online retail demand statistics will vary between industries and product groups. For example, the accompanying chart shows Australian online searches for games consoles with a significant peak for all variants over the Christmas period. Predicable for a game, toy or discretionary luxury but automotive performance products can be viewed in the same way.
Taking these numbers into consideration, Enform believes it’s now safer to say that retailer confidence is slowly getting back to normal after the recession. However, within the data are prompts for recognizing the opportunity for promotion of one’s performance products as potential gifts for the holiday season. The most likely recipients in this case will be the “giver” themselves as they reward themselves with extra holiday pay or bonuses. Tap in to the upbeat holiday season retail vibe and offer your customers a reason to buy your product as a gift instead.