11 Oct 2004 | Jamie said...

Wow. How does a statistic like that get created? There would have to be a total number of consumer dollars (all online shops reporting their sales figures and revenues). Who keeps track of all of this? I don't think our company reports sales figures, but that might be because we're privately held.

11 Oct 2004 | JF said...

I think it was something like $140 billion spent online and then about $40 billion of it spent at eBay properties. I'm searching for the data, but that's what I think I remember hearing.

11 Oct 2004 | John said...

I would be interested to see the source of that statistic. If I buy an antique butter churn on eBay and pay for it through PayPal, do they get to count those dollars twice?

11 Oct 2004 | Josh said...

Perhaps we could get an inverse PayPal donations button. Readers click the button, eBay pays. That way the guys at eBay could spread the wealth to us struggling mortals and avoid the tax hit.

11 Oct 2004 | Jeff said...

Wow! I want to know where you heard that, but I do trust it. Think about it, who else do you buy with? Almost everything you buy is through paypal. Well... except for corporations. Maybe because other products are so expensive they get weighted more. It'd probably be more if you looked at how many payments rather than how much.

11 Oct 2004 | Holy Cow said...

There is the possibility that this statistic, like many other statistics, has emerged from the Gartner random number generator applications, er, research group. :)

11 Oct 2004 | dick said...

Gian Fulgoni of ComScore presented a statistic like this at Web2.0 last week. It surprised me, but I would imagine comScore's data is pretty accurate, as they sit in the middle of the clickstream for about 2mm internet users, so that's a killer sample size.

11 Oct 2004 | pb said...

Per it's earnings announcement, eBay did $8b in Q2 and PayPal, $4.4b. Taking only a portion of the PayPal volume, accounting for growth and annualizing, you can easily get to $40b. The question would then be: how accurate is the $140b number. This includes about $10b from Motors which you may wish to take out.

11 Oct 2004 | David Schontzler said...

You could probably get a pretty good estimate of things if you got CC companies to work with you and hand over online purchase info.

12 Oct 2004 | Ryan Mahoney said...

This data is projected by measuring the purchases of a small percentage of internet consumers, then extrapolating that data. The consumers know they are being monitored because they give their permission. It's not very scientific, but it's better than nothing - or at least it's supposed to be.

True Story:

A few years ago my company built an e-commerce site for a floral retailer. One morning I received a call from the CEO: a popular business magazine had reported them as third in the industry for Valentines Day sales. This was great, except for the fact that the reported numbers were totally incorrect. The magazine cited ComScore. ComScore had not contacted myself or the site's owners to verify the information. The numbers they reported were way off - as in, by millions. My client was able to harness this hype to sellout to a an envious competitor at an inflated valuation.

I'm guessing that ComScore had some
"marketing parters" who were spamming their mailing lists and this totally skewed their data.

At any rate, take their figures with several million grains of salt ;)

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