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August 5, 2009

Internet shopping in a slow economy

Executives from the country top’s retail Internet sites are in Baltimore this week for an “e-tail” conference at the new Hilton convention center hotel.

As expected, the theme of the conversation is surviving in an economy where consumers are spending less. But the Internet sites seem to be faring better than bricks and mortars stores, despite the economy.

Seth Adler, of Worldwide Business Research, the group that organizes the convention, said Internet retailing is a bright spot in the otherwise sluggish economy.

U.S. online retail sales are projected to rise 11 percent this year to $156 billion, according to Forrester Research. The growth is a little less than the 13 percent in 2007, but far better than most retailers have seen.

Scott Savitz, president, CEO and co-founder of shoebuy.com, said during the conference that his company expects double digit sales growth this year. Savitz said people are still spending, they’re just being more thoughtful about their choices.

The Internet is good for that because people can comparison shop and read recommendations from other shoppers. They don’t have to make a decision right away and can come back to the site when they’re ready to buy. He said his company offers free shipping and return shipping, a great savings for people watching their cash.

So, what are your Internet shopping habits these days? Do you feel more comfortable shopping online? Do you feel like you can make more thoughtful choices from your computer? Let us know.

Posted by Andrea Walker at 7:00 AM | | Comments (0)
Categories: Shopping, Technology
        

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