Rye Brook, NY - July 21, 2010 - 17 percent of consumers plan to do their back to school shopping online this year, a five percent increase over last year. This is according to the eBillme Online Spending Index, a quarterly survey conducted by Javelin Strategy & Research. The Index polls 1,200 consumers to measure projected online spending for the quarter and the influencing factors. According to the Q3 Index, consumers are planning to spend an average of $271.77 online, an eight percent increase over Q2 and 20 percent over Q3 2009.
In addition, this quarter, consumers were surveyed about back-to-school spending. Shoppers plan to spend an average of $516.96 on back-to-school, both online and offline. 18-24 year-olds plan to do the most back-to-school shopping online this year with 30 percent expecting to buy from eCommerce sites, 13 percent above the overall average.
Spending amounts on books, clothing, shoes, and electronics top the list year. On average, shoppers plan to spend:
- $144.41 on electronics and computers
- $96.28 on clothing
- $95.36 on books
- $50.42 on back to school shoes
- $41.66 on college dorm furniture
- $36.77 on gifts
- $31.76 on school supplies
- $20.29 on other items
“Our Index this quarter looks very promising for the retail industry,” says Marwan Forzley, President and CEO of eBillme. “How consumers plan to spend on back-to-school is a good indicator of consumer confidence and what we can expect for the upcoming holiday shopping season. Back-to-school sales projections are up and all signs point to an increase in spending over the next 90 days. Compared to last quarter and this time last year, these are the strongest projections we have seen. Additionally, we are seeing a strong 13 percent decrease over last year in the number of consumers delaying purchases due to uncertainty in the economy. This is an opportunity for retailers, especially those offering back-to-school products and deals, to capture these sales and win new customers.”
The Online Spending Index is released quarterly by eBillme, the most secure payment option online that enables consumers to pay with cash using online banking and walk-in locations. eBillme offers consumers buyer protection features including satisfaction guarantee, best price, and fraud protection, in addition to cash-back rewards through the eBillme Rewards program.
For more information or to receive the full findings from this quarter’s Index, please contact Alicia Buonanno at or 610-228-2096.About the Index
The Index is based on data collected from an online consumer survey deployed quarterly starting in August 2008, with a sample size of 1,209 respondents. The survey targeted US adults (age 18 +) and was based on representative proportions of gender, ethnicity and income as compared to the overall US online population. Overall margin of sampling error is ±2.8 percentage points at the 95% confidence level.
The next Index will be released in October, 2010. Data from the Index will be posted on the eBillme website, http://www.ebillme.com/merchants/.
About eBillme
eBillme™ is the most secure way to pay online and the only online payment solution that extends the convenience of online banking to the merchant’s checkout process. The service enhances security for online shoppers, and enables merchants to increase sales while reducing transaction costs. No financial data is exposed and the payment transaction is securely transferred from the customer’s bank to the retailer’s bank. Consumers can shop online, by catalog or through call centers, and pay for their purchases at their bank, credit union, or bill pay portal using the security and convenience of online banking or by paying the bill at over 75,000 walk-in locations. For more information, please visit www.eBillme.com, eBillme’s Online Debt-Free Shopping Mall or the eBillme blog.
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