Retailers Primed for Cyber Monday
Monday, November 26th, 2007;
-- Andy Beal |
Reading through my RSS feeds this morning, I was shocked at the distinct lack of anything news-worthy–surely companies are over their turkey-induced slump. Then Reuters reminded me that today is "Cyber Monday" which means that anyone with a keyboard is currently shopping the biggest online sales day of the year.
How big is Cyber Monday for online retailers? comScore predicts sales will exceed $700 million online today. That’s a lot of shoes, iPods, and tiny flying helicopters.
With the economy in a mini-slump, etailers are going all out this year…
…the number of retailers offering free shipping with no conditions, such as a minimum purchase, has jumped to 41.4 percent from 36 percent last year.
Nearly one-third of retailers are also having special one-day sales for Cyber Monday. Forty-two percent plan some kind of promotion, according to the NRF’s annual survey.
In fact, the number of retailers hosting online deals on the Monday after Thanksgiving has surged to 72 percent of those polled from 42 percent just two years ago.
I guess we’ll learn soon enough if today is a success or not.
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November 26th, 2007 at 12:29 pm
$700 million in one day is pretty good going. It’s weird the way these patterns come about.
November 26th, 2007 at 1:33 pm
Let’s put this into perspective though. “Cyber Monday” is cute for the media to talk about but it still is only about 4% of the sales that occurred on Friday and Saturday at retail. As far as online has come, it’s still got a long way to go to beat brick and mortar.
November 26th, 2007 at 2:24 pm
free and shipping are two of my favorite words