A new report by OECD says that the Internet shopping has boomed with people looking for savvy ways to purchase in the time of recession.
“The financial and economic crisis appears to be giving the e-commerce a boost as consumers search for ways to reduce expenditures by purchasing items online. The savings can be substantial,” the OECD said.
A few examples listed included:
- Craigslist forecast to report sales of 100 million dollars this year, a 23 percent increase from 2008.
- Amazon, had net sales of 177 million dollars in the first quarter alone, up 24 percent from the first quarter 2008.
- China has experienced a jump in online retail activity. The online auction and retail website of the country’s leading e-commerce company, Alibaba Group, reported a 131 percent rise in transaction volume in February compared with a year earlier.
View the OECD Empowering E-Consumers document.