December 8, 2004

E-commerce strong with sales

by brian_turner

Online spending on U.S. Visa credit and debit cards for online purchases rose 34% year-to-year for the week ended Dec. 5, to $2.67 billion from $1.99 billion, Visa reports. Total spending on Visa cards rose 19%.

The number of e-commerce transactions on Visa payment cards rose 27.5% year-to-year for the same week, to 33.2 million from 26.04 million, Visa says.

Visafs e-commerce figures include both b2b and b2c payment volumes.

What this shows is the irracible march of online sales, as the consumer is empowered with real choice of products and prices – very much in the vein of how the local grocer was squeezed out by the better ranges and pricing of supermarkets, so is e-commerce challenging physical stores in their entirety.

This story also comes on the back of research by Hitware, which according to a report at Marketing Vox, also shows that there is a real movement to online shopping from people living in rural areas.

The bottom line: freedom of choice empowers consumers. And the internet tremendously empowers the consumer.

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