Cyber Monday a success, despite Black Friday

Posted Dec 1st 2009 8:20AM by Tom Johansmeyer
Filed under: Apple Inc (AAPL), Wal-Mart (WMT), Amazon.com (AMZN), Target Corp. (TGT)

The online push from Black Friday continued into Cyber Monday. Coremetrics, a web analytics company, found that sales were up 19.6% year-over-year as of 1:00 PM Monday. Online may account for only 10% of spending during the holiday season (7% overall), but it remains the bright spot in what has been a lackluster kickoff to the holiday season.

Black Friday spending was up only 0.5% this year, though Black Friday online spending jumped 35%. For Friday and Saturday, ShopperTrak reports that retail sales were up 0.9% to $16.77 billion, while customer traffic dropped 2.7%.

Cyber Monday deals have been set to last for several days, with Black Friday-caliber specials being used to lure shoppers to websites in the hopes that they'll click and buy. Target (TGT), Amazon (AMZN) and Wal-Mart (WMT) have been pushing online deals since Thanksgiving, earlier in some cases. Target, for example, offered a steep price cut on the Garmin GPS system, while Amazon slashed the price on the Apple (AAPL) iPod Touch. Netbooks and flat-screen televisions moved, but home décor and appliances were among the leaders.

Sucharita Mulpuru of Forrester Research expects online holiday sales to increase 8% this year to $44.7 billion. Forecasts for all retail sales this holiday season range from a decline of 3% to an increase of 2%.

Tags: aapl, amzn, Apple, Black Friday, Black Friday 2009, cyber monday, Cyber Monday 2009, CyberMondayDeals, Garmin GPS, inthenews, iPod, ipod touch, online sales, retail, retail sales, retail sector, retail stocks, retailers, ShopperTrak, Target, TGT, wal-mart, walmart, wmt

Print this

Reader Comments (Page 1 of 1)

12-01-2009 @ 8:37AM

Beltway Greg said...

Keep buying that Amazon kids. It's money in the bank on the downside and unlike Mick Jagger I will not be coming to your emotional rescue but I will take your money.