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Online shopping rises to $30.1 billion

ROCHESTER, N.Y. – Online shoppers during the just-completed holiday season drove sales in the channel 30 percent higher than last year to $30.1 billion, according to a newly released report.

The results from the fifth annual Holiday eSpending Report offered further evidence that Internet retailing is on a steady incline and high in the minds of time-starved, tech-savvy shoppers. Conducted in conjunction by Goldman Sachs, Nielsen/NetRatings and Harris Interactive, this study covered the shopping period from Oct. 29 to Dec. 23.

“Consumers continue to shop later in the online holiday season as their trust in on-time delivery grows,” said Anthony Noto, Internet and entertainment analyst, Goldman Sachs. “While 2005 holiday sales appear to be at the high end of expectations, continued heightened competition could hurt profitability.”

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