Online Marketing - Online Gift Spending Up

11/29/1999

Internet gift spending rose by 17 percent last week, despite a modest decrease in overall Internet spending, according to data revealed by a weekly survey of holiday Internet shopping, conducted by Goldman Sachs and PC Data Online.

Internet shoppers spent $208 million from home last week, down $13 million from the previous week. Over a quarter of this total, $54 million, was spent on gifts, the survey
found.

"The shift toward gift-buying on the Internet has begun, but we have yet to realize the real magnitude of this Internet Holiday season," said Cameron Meierhoefer, Internet
analyst for PC Data Online. "Early signs on this current week indicate that buying activity is picking up significantly, as people realize that Thanksgiving is here."

PC Data Online in cooperation with Goldman Sachs surveyed 3,019 home-based Internet users during the week of November 12-16.
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