Yesterday was a great day for online retailers, according to a report published by Business Week on Tuesday, December 3, 2013.
Cyber Monday, as it is commonly known, is a day on which online retail stores publish special deals for goods and services and 2013 revenues have exceeded many expectations. Sales at Amazon.com, Ebay, and other places hit single- day records yesterday as anxious shoppers clicked their way to cyberspace bargains.
Brick and mortar stores did not perform as well on Black Friday as in past years, but improved internet sales should help cushion the blow. In particular, retailers that tailor sales to smartphone and tablet users benefitted tremendously, with mobile traffic comprising 32 percent of web site visits, a 45 percent jump from the same time last year.
“The results thus far from an e-commerce perspective have been very strong - certainly strong relative to brick-and-mortar stores,” said Ron Josey, analyst for JMP Securities Inc. “This is the first holiday season where mobile is absolutely having its mark on overall retail sales, whether that’s from a smartphone or a tablet. It’s not going away.”
Even before Cyber Monday kicked off, shoppers were busy online, visiting web sites on Black Friday and over the weekend, in search of discounts and special offers. According to official research published by ComScore, Inc., online spending accounted for 15 percent of Black Friday sales, increasing 15 percent compared to last year. But the greatest surge in online sales took place on Cyber Monday itself and the move away from traditional shopping is a trend that retailers cannot ignore.
“Cyber Monday has been the single biggest shopping day of the year for U.S. retailers for a number of years now,” said Sucharita Mulpuru, an analyst at Forrester. “The big story is that stores continue to lose share and web retailers continue to gain share.”
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