Sunday, December 6, 2009
Cyber Monday Gives Some Hope
By Mary Clare McGraw
Although Black Friday was a disappointment for many retailers, Cyber Monday certainly proved to be more promising. The Monday following Thanksgiving has been dubbed “Cyber Monday,” during which online retailers offer big discounts and free shipping to entice shoppers to spend enthusiastically online. This year, Cyber Monday sales rose 14% from 2008 and consumers bought nearly 30% more items per order, according to research firm Coremetrics. They also recorded information revealing that shoppers bought 10% more items per order online than that did on Black Friday of this year.
This increase in online sales, especially in relation to Black Friday in-store sales, could be attributed to the consumer’s willingness to spend more online because it is simply the most convenient way to shop. Online traffic surged 43% on Monday as Americans searched for deals from their homes or workplaces. Shoppers, this year, are focused on value and although online sales were up on Monday, November 30th, there is no saying how the remainder of the holiday season will pan out. The National Retail Federation expects holiday sales to decline 1% this year, which is a relative improvement from the 3.4% drop in holiday sales last year.
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