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The findings were contained in the quarterly Internet Confidence Index, issued by Internet giant Yahoo and media ratings company ACNeilsen. The index is designed to measure confidence levels in Internet products and services. It found that consumer confidence in the Internet is up 8 points over last year and has remained constant since the last quarter.
The survey also found that US consumers intend to spend USD19.6 billion on-line during the 2002 holiday season, an increase of 23 percent from 2001.
Three key motivators driving the increased confidence included convenience, high comfort levels with credit card usage and a strong sense of security with personal information on-line. "We are seeing that the current challenging economic environment has little effect on consumers' confidence in on-line products and services," said John Costello, Yahoo's chief global marketing officer. "In fact, confidence in e-commerce is increasing year-over-year."
The survey also said that broadband users are the most confident on-line and have the highest intent to spend. Broadband consumers had an Internet confidence rating of 156 and intended to spend USD287.10 on-line this Christmas, as opposed to a rating of 128 for narrowband (dial-up) users, who on average will spend USD210.90 per consumer this Christmas.
"The results show that broadband consumers are the most avid on-line consumers, indicating that e-tailers could see significant returns on their investment by targeting this demographic," Costello concluded.
The index also indicates that the consumer's level of education continues to play a significant role in both Internet confidence levels, as well as their intended spending. Those with some college education and higher are at 144 points on the index, a 15 point increase over last year, while those with high school education or less are at 125 points, only a 5 point increase over last year. Additionally, the intent to spend is significantly higher in those with a college education or higher, USD75 higher during the holiday season than their high school educated counterparts.
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