U.S. consumers will hit the internet for the majority of their gifts this holiday season, marking the second year in a row based on CNBC’s All-America Economic Survey.
According to CNBC, 45 percent of survey respondents said the internet is their holiday shopping destination. The number of consumers choosing eCommerce is up 5 percent from last year, and more than double that of 10 years ago.
Among the online shoppers, a whopping 76 percent said they plan on doing most of their holiday shopping on Amazon – in fact, no other online or offline retailer came even remotely close. Sixty-five percent search on Amazon always or a large part of the time, which CNBC found is up for the second year in a row. Walmart was the distant second-place retailer, with 8 percent of respondents choosing to purchase their holiday gifts there.
“As much choice or selection as the internet provides, it’s just an amazing set of data to see all that concentrated in one online retailer,” said Micah Roberts, a partner at research firm Public Opinion Strategies. “It really underscores the dominance in that space.”
But it’s not just search where Amazon is winning. CNBC found that 57 percent of consumers who search online at Amazon make a purchase always or most of the time, with the conversion rate for overall internet sales at around 3 percent. Of the Amazon shoppers among the survey respondents, 62 percent earn $100,000 or more annually, while 20 percent earn less than $30,000.
The survey also identified what’s most important to consumers when shopping online – 43 percent signaled free shipping, 26 percent named the ability to price comparison shop and 18 percent cited product information.