I know you’ve been waiting with bated breath all holiday season to find out which of the made-up online shopping holidays would be the winner—Cyber Monday for the first time ever? Green Monday again? Brown Monday? Purplish-Blue-Like-a-Bruise Monday? Sadly, none of the above. Nope, it was some no name: Tuesday, December 15 . Coming from behind, that all-but-forgotten day of the week topped the online revenue charts for the first time with $913M in sales. That’s right, nearly one billion dollars in revenue online in one day—and yes, that would be the record for the most online spending in a single day, ever. 2009 Holiday Season To Date vs. Corresponding Days* in 2008 Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases Total U.S. – Home/Work/University Locations Source: comScore, Inc
Posts tagged ‘cyber-monday’
All of the talk of how things were on ‘Black Friday’ is now followed by the yearly quest for the Cyber Monday data. We in the online world love to see just how much the shift to online commerce continues to overtake the traditional way that goods and services are sold. Whether these numbers are inflated or given too much credit is always a concern but this year’s trends, at least from a few sources, points to the continued rise of online growing while brick and mortar struggles. To what degree this year’s trending points to a larger economic trend is a huge TBD (to be determined). Honestly, more people may have experimented with online purchasing to save time and money including gas and food that is part of the in-store shopping experience of a venture out on Black Friday. That’s just my thought and there is NO scientific backing on that one. As for more ‘official’ statistics, Retailer Daily sums it up this way Both annual consumer spending and traffic levels went up on “Cyber Monday”, according to third-party research results. Consumers’ interest in shopping online appeared to carry over from “Black Friday” last week, when e-commerce sales increased at a significantly higher rate than brick-and-mortar sales. Here are a few highlights from the Coremetrics Cyber Monday 2009 report (PDF) : E-commerce sales were 13.7% higher on Cyber Monday this year than they were last year Average dollar amount spent by consumers per online order rose 38.2%, from $130.24 to $180.03 Apparel retailers and jewelry retailers drove this increase with 26.4% and 14.3% jumps in average dollar amount spent per online order, respectively. Sporting goods segment, retailers reported a nearly 55% increase in new site visitors, but a 3.1% decline in average dollar amount spent per online order. Department store retailers reported a 33% increase in new site visitors, but a nearly 10% decrease in the average value of each online order. Per order, consumers purchased 30% more items this year than they did last year. November 2009 American Express Spending and Saving Tracker reports that this e-commerce surge may trend though the holiday season 79% of overall respondents plan to use the internet as a tool for holiday shopping 45% plan to purchase items online 28% will use the internet to buy hard-to-find items 27% will use the internet for product research 25% will go online for gift ideas One particularly interesting piece of data is around the projected use of mobile in the holiday shopping experience is on the rise. According to the Deloitte 24th Annual Holiday Survey, 19% of consumers plan to access the internet via their mobile phones while shopping to find store locations, obtain coupons and sales information, as well as research products and prices. This percentage rose to 39% in the 18 to 29 age group. So do we dare take this information and say that the economy is truly on the rebound and rosier days are ahead for all? Probably not a good idea. I guess the solace that can be taken is that if there is one industry in the marketing world that is at least going to stay afloat during these rough times it’s the Internet marketing segment. Maybe we should just count those blessings and move on. Pilgrim’s Partners: SponsoredReviews.com – Bloggers earn cash, Advertisers build buzz!
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The Cyber Monday Data Is Here!
Let’s face it this holiday season is a pivotal one for all of us from a macro point of view. While many retailers will be focused on their individual bottom lines it will be important to look at how this whole ‘first weekend’ of the holiday shopping season plays out from start to finish with the latest entry, Cyber Monday, happening as you read this. First the good news. Online sales for Black Friday were up 11% over last year according to comScore and the rest of November was an improvement over the prior year. Let’s remember, though, that last year’s holiday season was on the heels of “Bailout 1” and waiting for a new president to be inaugurated. In other words, last year sucked so any improvement over those numbers needs to be tempered. Overall, meaning the performance of the Black Friday weekend in total, was less heartening in that it appears that people are intent on spending less and there was virtually no increase in spending overall from last year. Yahoo News reports Consumers spent significantly less per person at the start of the holiday season this weekend, dimming hopes for a retail comeback that would help propel the economy early in 2010. Consumers said they will have spent nearly 8 percent less on average, or about $343 per person, over the weekend that includes Thanksgiving, Black Friday and runs through Sunday, according to the NRF (National Federation of Retailers). Traffic to stores and websites rose to 195 million people from 172 million in 2008, but shoppers were focused on buying low-priced items, like $10 toys and $9 books, the NRF said. Total spending for the holiday weekend rose to an estimated $41.2 billion, up 0.5 percent from a year earlier, NRF said. Since I am not a prognosticator I am not going to offer some thoughts on where this will all go. What I will say is that this will not be the time for irrational exuberance over numbers that look nice in a silo. This season is about online and offline together and if there is little or no increase (or even a decrease) in spending then we are looking at some interesting times ahead.
