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October 7, 2008 10:49:55 PM CDT

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Online Buyers Want Blenders, Not Diamonds

Posted Dec 24, 07 3:03 PM CST in Technology,  Business 

(Newser) – With a shaky economy causing consumers angst this holiday season, online e-tailers say shoppers are opting for functional over frivolous. E-sales of furniture and appliances have spiked more than 70%, while sales of jewelry, watches, and flowers have dropped, reports the New York Times. “It’s certainly counter to our expectations,” said the CEO of Furniture.com.

ComScore, which tracks the online industry, says shoppers spent about 20% more online than last year, with affluent shoppers increasing spending 28%. Much of that spending went to home electronics, which saw a 129% bump. Analysts worry increased discounting and free shipping may cut into e-tailers’ bottom line.

Source New York Times

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A man walks past businesses that cater to high-end luxury item consumers along Rodeo Drive on December 14, 2007 in Beverly Hills, California. In the midst of the biggest selling season of the year, retailers...   (Photo by David McNew/Getty Images)
Shoppers visit businesses that cater to high-end luxury item consumers along Rodeo Drive on December 14, 2007 in Beverly Hills, California. In the midst of the biggest selling season of the year, retailers...   (Photo by David McNew/Getty Images)
A retailer places a necklace in a window display as shoppers visit businesses that cater to high-end luxury item consumers along Rodeo Drive on December 14, 2007 in Beverly Hills, California. In the midst...   (Photo by David McNew/Getty Images)
A 17.62 carat flawless diamond pendant. You're more likely to get a blender this Christmas, as shoppers opt for the practical over luxury. (AP Photo/Lefteris Pitarakis)   (Associated Press)
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retail sales  • holiday shopping  • luxury goods  • jewelry  • flowers


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