Monday, December 01, 2008
Retailers Wonder If Cyber Monday Success Will Continue
Market analysts think 2008 could be the year when the holiday shopping season proves to be a marathon, not a sprint.
While it's still too early to determine just how successful Black Friday was, retailers are pinning their hopes on Cyber Monday(a nickname coined by the National Federation of Retailers). In 2007, Comscore declared that Cyber Monday took in $733 million for retailers-which was a 21% increase from 2006. On Sunday, it reported that online spending was up a modest 2% for the combined Thanksgiving Day and Friday, compared with the year-ago period.
*Update: Dec. 3- Comscore reports a 15% increase in online retail sales for 2008 Cyber Monday.
For the shoppers who didn't want to risk their lives (literally) at the early sales last Friday, Cyber Monday provides a faster,convenient alternative to the bum rush at the front doors of every major retail store.
Marshal Cohen, a chief industry analyst at NPD Group, a market research group, told the Associated Press that many shoppers may be holding off for more deals that may arise over the next few weeks.
The consumer clearly is showing us that there is a holiday to be had, but the consumer wants bigger deals. And they are not panicking.They're willing to wait it out, at almost any price.
Gamestop.com is among the most popular stops for the best video game deals, including $10 off Shaun White Snowboarding, $10-20 off the Wall-E video game and for the Guitar Hero- 50% off Coffin Case hard flight case for your instrument.
Circut City, which is struggling to survive, is offering discounted digital cameras and PCs.
By Matt O'Hern at 09:12 AM | Comments (1)