Did Cyber Monday Live Up to Its Billing?
Online spending on the Monday after Thanksgiving reached $846 million, up 15 percent from a year earlier, but e-commerce spending for the holiday season to date is off 2 percent as consumers wait for deals, according to tracking firm comScore Inc. But I’m not sure that this “made up shopping holiday” was everything that the industry wants it to be. I thought it odd that the Web-based press had very few stories about it on Tuesday, the day after. Unusually quiet…
After talking with a number of clients, I think the traditional direct merchant may not have fared too well. On the other hand, major retailers probably experienced high traffic—reflected in the comScore results—which might be attributed to an all-time high in promotions and big store traffic numbers on Black Friday. Consumers were looking to see if they could scoop up additional big savings.
But the real concern that most merchants have is PROFITS. This year, with it being a non-plus economy, consumers pulling back, and retailers promoting deep discounts early in the season—Web site traffic and record sales is one thing; profits is something else.
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