Love is in the air and so is online shopping. Thirty-two percent of consumers plan to do their Valentine's Day shopping online this year, a 9-percent increase over last year. While 19 percent of consumers plan to spend more money this year on Valentine's Day gifts, a 7-percent increase over last year. This is according to the eBillme Online Spending Index, a quarterly survey conducted by Javelin Strategy & Research and released by eBillme, a product enabling payment with cash online using online banking and walk-in locations.
The Index polls 1,200 consumers to measure projected online spending for the quarter and the influencing factors. According to the Q1 Index, consumers plan to spend an average of $259 online over the next 90 days, a 10 percent increase over Q1 2010.
"There will be a lot of retail love this Valentine's season," says Marwan Forzley, president and CEO of eBillme. "Retailers are coming off one of the best holiday shopping seasons in several years and it looks like the spending will continue for another quarter. Our Index paints a very optimistic picture for the e-commerce sector with increases in shoppers and sales projected for the quarter. It is clear that consumers are starting to spend again but we continue to see evidence of a shift in how they are spending their money. Credit card debt remains a big concern for many and frugality continues to be a theme at the checkout. Thirty-four percent of respondents this quarter indicated they have used credit cards less often in favor of non-credit ways to pay. We expect to see this trend continue throughout 2011."
