According to a comScore report, they projected sales for Cyber Monday to come in at about $700 million. They based the estimate on the sales from Black Friday, which reached $531 million in spending by Americans. That's a 22 percent increase over last year.
The top online shopping destination for Black Friday was the Barry Diller online shopping empire, InterActiveCorp (IACI), which led all websites with 5.3 million unique visitors across his network of sites. That was even better than Wal-Mart's (WMT) 5.1 million, and Amazon.com's (AMZN) 3.6 million.
Most reports coming in say the traffic surge was handled well by most websites. Unfortunately for Yahoo (YHOO), their payment processing system crashed throughout the day, which kept consumers from completing their transactions. That's not something they wanted to hear; especially at this time of the year. I imagine their merchants are furious over the situation.
The National Retail Federation reports that traffic to physical stores was up by 4.8 percent this year, while online shopping is expected to increase by over 20 percent.
Much of the web traffic and sales is being driven by steep discounts, something the economic climate has forced companies to offer. Even so, the news so far this year for online retailers is better than expected. ComScore adds that they believe Cyber Monday sales will be exceeded during the holiday shopping season.
» Online Retail Spending Up 17 Percent Through November 18 from TheAlphaMarketer
Last post we talked about the Black Friday and Cyber Monday online retail sales. This time we'll talk on the overall online retail sales so far this year, which have been good news so far this holiday season.After the first... [Read More]
Tracked on: November 27, 2007 6:43 PM | Permalink to Trackback