“Americans have historically been criticized for low savings and high consumption rates, but 58% of consumers are now reducing their overall spend levels compared with one year ago,” says principal analyst Sucharita Mulpuru, author of the study, “eBusiness and the Economy.” “This reduction in spend is expected to trickle down to sectors such as online retail, which had historically been perceived to be more recession-resistant.”

For e-retailers to succeed in 2009, they must effectively address customer confidence issues, convey value in their products and focus on customer retention, the report advises.

“The financial crisis and collapse of long-standing banking institutions were perhaps the biggest reasons for the rattling of consumer confidence,” Mulpuru says. “Businesses that remain strong will communicate their strength on their home pages, in their e-mail communication and in their inbound communication with call center representatives.”

In addition to addressing customer confidence, e-retailers should explain how their products help consumers save money, the study says. “Because of the drastic reduction in overall consumer spend, businesses that best address customers’ need to save will capture disproportionate wallet share,” Mulpuru adds.

And one of the key strategies to success in 2009 will be reallocating budgets toward customer retention efforts.

“A smaller universe of new customers means that businesses will be forced to be particularly careful with their marketing expenses,” Mulpuru concludes. “Rather than focus on customer acquisition tactics like search marketing that web businesses have traditionally relied upon, the companies that will thrive during a downturn will be more focused on retention tactics such as e-mail marketing and customer relationship management efforts that seek to find loyal, recession-resistant customers.