Saturday, November 28, 2009

Online shopping grows in popularity

The average online order on Black Friday rose 35% from last year, to $170.19, according to online retail analyst Coremetrics -- an indication that people may be looking to buy gifts after a year of economic woes.

"The healthy jump in the average amount of money people are willing to spend online this year suggests consumers have adjusted their shopping patterns to the reality of the economic downturn," said John Squire, chief strategy officer, Coremetrics, in a statement. "They're thriftier, they're savvier and every one of them wants to be the best bargain hunter out there."

While people spent more online, Coremetrics said they were spending less time browsing, indicating that they know what they want, and how much they want to pay for it.

Online shopping will garner more attention Monday -- the so-called Cyber Monday -- when many Americans will take advantage of computers at work to shop for gifts.

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