Thursday, 24th November 2005 (3701 views)

Sales of online jewellery are set to rocket this Christmas, according to a recent US survey.

Research provider comScore Networks has forecast that online consumer spending will lift off during the yuletide period and highlighted jewellery and watches as one of the fastest growing categories.

Online sales pulled from watches and jewellery are expected to reach $1.15 billion this holiday season – a 32 per cent rise on last year.

This beats total projected online consumer growth of 24 per cent.

The research provider expects watch and jewellery sales to generate over seven per cent of all online consumer spending excluding travel goods.

Because its research excludes sales from auction sites and large business purchases, the actual proportion may be higher.

While high oil prices may have dampened overall confidence in festive spending, comScore says online businesses are continuing to profit from the current consumer mindset.

"Comparison shopping and web search engines not only provide consumers with an efficient means for navigating this complex shopping environment, but also cause online retailers to engage in more competitive pricing," said comScore's chairman, Gian Fulgoni.

Even mass retailer Walmart has got in on the act by offering a $10,000 gold ring on its website.

 

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