Abacus Report: Web Sales Soon to Surpass Catalog Sales Aug 3, 2005 3:14 PM
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Website sales are likely on track to surpass catalog sales within the next 18 months, according to the 2005 Multichannel Retail Annual Trend Report from Broomfield, CO-based marketing data and services provider Abacus.
Web sales accounted for 38% of direct sales 2004, compared with 32% of total sales in 2003, and 28% in 2002. Abacus says the results reflect an increased level of comfort among consumers with ordering online, as well as improved Website design, improved cross-selling and upselling on sites, and broader use of new tools, such as clickable catalogs.
Abacus compiled the 2005 Trend Report with data from its consumer cooperative database Abacus B2C Alliance and matchback tool ChannelView. The Report reveals that multichannel direct sales totaled $23.4 billion in 2004, a 10% increase over 2003. The number of purchasing households remained steady at approximately 55 million, though growth was spurred by an 11% increase in buying frequency.
In this year’s survey, the apparel and accessories category rebounded from two consecutive years of decline to lead with $6.876 billion in sales. The home decor and furnishings sector saw a 7% increase in sales in 2004, to $3.538 billion, securing the number two overall spot. Gardening and backyard products did not make the top five but the sector was the fastest growing this year, increasing sales 18 %.
The biggest decline was in the arts, crafts & collectibles category, in which sales fell 21%. Books, music and video also posted a decline, according to the Trend Report, as sales in the category slipped 1%.
