GDC Expo, March 7-9

Online sales represents only 7% of total US retail sales. http://techcrunch.com/2010/03/08/forrester-forecast-online-retail-sales-will-grow-to-250-billion-by-2014/. The Federal Reserve reports that credit cards are used more than 20 billion times a year in the U.S., with the total value of these transactions at about $1.9 trillion. A growing majority of Americans 64% report they have not made an online purchase from a specific website because of security concerns. When asked to explain why they did not make that purchase, 60% said it was because they were not sure if the site was secure, 51.4% were worried about providing information requested, and 48.4% felt a website requested more information than was necessary for the transaction. The pool found that 69.3% research potential purchases over the Internet. All this may be spun into good sounding news, but at the end of the day, the bottom line is this - after all our efforts to grow eCommerce it still only represents 7% of the total annual US credit card spend.