Cyber Monday Sales To Ring Up $900 Million - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Cloud // Software as a Service

Cyber Monday Sales To Ring Up $900 Million

ComScore prediction follows report that online retail sales jumped 13% over the first 26 days of November.

Samsung Galaxy Tab Teardown
(click image for larger view)
Slideshow: Samsung Galaxy Tab Teardown

Millions of American shoppers, exhausted from weekend excursions to the malls, returned to their jobs on Cyber Monday and went to work -- to continue their shopping, this time online.

The retailing concept has called for shoppers the visit bricks and mortars stores on Black Friday -- extended this year to cover the entire Thanksgiving holiday week -- and then to do their online shopping on Monday from their work computers. This year the two bargain retailing events have merged, with online shopping picking up steam over the entire seven-day period.

According to online research company ComScore, some 70 million shoppers will log onto their computers Monday and spend more than $900 million in hoped-for bargains. The movement is really a trend underlined by ComScore's earlier observation that online retail sales have jumped to $11.64 billion over the first 26 days of November. The increase represents a 13% gain over the same period last year.

Bargains, of course, represent the main attraction, but escalating gas prices have worked to keep people at home, particularly shoppers in rural areas who have to drive long distances to malls. Many online shopping sites have announced free shipping to sweeten their offerings this year. Social media, too, is making an important impact on online shopping as consumers are taking a more direct influence on friends by recommending sales and bargains on Twitter and Facebook.

IBM's Coremetrics reported that online spending rose 14% over the long weekend, from Thanksgiving Thursday through Saturday. IBM's Michael Haydock had predicted a surge in online buying based on U.S. Commerce Department statistics, which reported an increase in disposable income and household savings.

"Cyber Monday sales were very flat last year," said Matt Wilson of SBC Advertising in Columbus, Ohio, according to media reports. "Everybody is predicting Cyber Monday is going to be bigger this year."

Traditional online shopping pacesetters Amazon and eBay each offered incentives to shoppers. Amazon offered deals on Apple products while Apple itself appeared to be holding the line on pricing. As an example, Amazon was offering an Apple iPod Touch 64 GB for $326.94, significantly lower than Apple's list price of $399.99. Amazon also is throwing free shopping into the deal.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
News
The State of Chatbots: Pandemic Edition
Jessica Davis, Senior Editor, Enterprise Apps,  9/10/2020
Commentary
Deloitte on Cloud, the Edge, and Enterprise Expectations
Joao-Pierre S. Ruth, Senior Writer,  9/14/2020
Slideshows
Data Science: How the Pandemic Has Affected 10 Popular Jobs
Cynthia Harvey, Freelance Journalist, InformationWeek,  9/9/2020
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
IT Automation Transforms Network Management
In this special report we will examine the layers of automation and orchestration in IT operations, and how they can provide high availability and greater scale for modern applications and business demands.
Slideshows
Flash Poll