Not only was Cyber Monday the biggest ever online shopping day (and only the second day during which online sales exceeded $1 Billion), it also capped a very promising start to the Holiday shopping season. In the first 28 days of November, U.S. retail, e-commerce spending amounted to $15 billion, a 15-percent increase versus the corresponding days last year. What’s more, the day is following the script written for it by its creators almost to the letter. “Half of [the] dollars spent online at U.S. Web sites originated from work computers, up slightly from last year.” ComScore’s informative press release (link below) contains graphs depicting the positive trends in online sales this Holiday season to date. comScore Press Release Nov. 29, 2011
Cyber Monday Was Biggest Online Shopping Day Ever with $1.25 Billion in Sales
Made Up by Marketers, Cyber Monday’s Sales Volume is Very Real
Just six years old and made up by Shop.org as a way to jump-start Holiday shopping, Cyber Monday came into its own last year when — for the first time — it became the biggest online shopping day of the year by sales and the first day ever that online spending surpassed $1 billion.
This year promises to be even bigger, according to comScore (the research company that measures web use). Online jewelry merchant Blue Nile doesn’t expect today to be their biggest sales volume day of the year; that will likely be the last day for free shipping by Christmas. But Mark Vadon, Blue Nile’s chairman, explains that — in addition to a sales jolt — the day gives marketers insights they can exploit for the rest of the Holiday shopping season. “It is the first time online retailers get substantial data on which products are most popular, where they will need more inventory and where they should offer promotions.” The New York Times Nov. 28, 2011
QVC to Celebrate its 25th Anniversary on Black Friday, Nov. 25th, with Special Sales Event
QVC will make Black Friday, November 25th, and Cyber Monday, November 28th, bookends of a four-day sales event themed “The Joy Of Giving Weekend.” On the first day of the event, the retailer will also celebrate its 25th Anniversary, and call it a “Better than Black Friday” event for good measure. Here is what QVC promises:
“The Joy of Giving Weekend” will feature QVC’s largest selection of special “event prices” on thousands of products that are in stock. This extended assortment allows customers to easily find great values – and is not limited to early bird shoppers, who quickly deplete limited Black Friday deals at traditional retail stores. Free standard shipping and handling will also be offered during Cyber Monday on the most ever gift items.
The event will also mark the debut of two new interactive tools to aid in shopping for gifts. QVC.com’s Gift Finder, powered by Gifts.com, will help shoppers find “a personalized assortment of items to fit every taste.” (Actually, the service accepts a few inputs like gender, age, hobbies and interests, and then spits out a list of products likely to appeal to that demographic/psycho-graphic profile.) QVC will also roll out a new Gift List application for the iPhone® that will enable customers to create, edit, and save personalized gift lists for friends and family. The mobile app will also allow users to set up reminders for gift-giving occasions all year round and share their wish list items with family and friends. QVC, Inc. Press Release Nov. 14, 2011
ShopNBC Touts Success of Black Friday/Cyber Monday Promotions
In a press release, the retailer reported that on Cyber Monday its website achieved its highest traffic day year-to-date, with 114,600 unique visitors to the site (14% higher than the prior year’s total). Website sales for the day were up 18% vs. last year, and accounted for 48% of company sales for the day overall.
The release also touts success on Black Friday, which along with Cyber Monday, bookended four days of Holiday shopping programming. On Black Friday, website sales achieved a 51% increase in conversion over last year’s event, and a 20% increase in retail dollars. At the conclusion of the news release, CEO Keith Stewart cites the website as a “powerful growth vehicle for the company.” ShopNBC Press Release on CNNMoney.com Dec. 2, 2009
According to a survey of 100 retailer chief marketing officers by accountancy BDO Seidman LLP, online sales for Cyber Monday are expected to increase by 2.4% over last year — with consumers responding to steep discounts and free shipping offers. As the WSJ chart shows, the rate of growth in online sales has slowed dramatically over the past year. The Wall Street Journal Dec. 1, 2008 Paid subscription may be required.
