Buy.com led the Cyber Monday charge this year, having the best sales day in its history. While predictions for this year's retail holiday season have been pretty dire, it would seem more holiday gift buyers have the "shop in your shorts" mentality, taking advantage of free shipping and no sales tax to ramp up online holiday retail sales.
Buy.com, which competes with larger retailer Amazon.com (NASDAQ: AMZN), has been around for over 10 years and features retailer categories just as diverse as its larger competitor. Some of the folks I've talked to say that, for the first time, they are doing the majority of their shopping online this year, mostly due to the deals they receive, the lack of local sales tax and with the majority of goods being offered with free shipping.
In other words, we're all value shoppers this holiday season. Once the Black Friday novelty wore off last weekend and prices returned to normal, shoppers kept lining up at the virtual doors of online merchants and will continue to do so until the end of the Christmas holiday. When one of the largest online retailers has its best sales day in its history despite the bleakest economy in its history, perhaps that is a signal of a paradigm shift. For many of us, it happened a long time ago. For the others, the gravy train of online shopping is becoming a clearer picture every day.
Buy.com has best sales ever on Cyber Monday
Posted Dec 3rd 2008 11:30AM by Brian White
Filed under: Industry
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Reader Comments (Page 1 of 1)
12-04-2008 @ 8:21PM
Jessy Scholl said...
The simple thing to know about buy.com is that it is partners with eBay. They have thousands upon thousands of listings there at eBay that are designed to price out the small and medium seller. I am betting you all that buy.com had more than half of their income from the auction site.