Cyber Monday: We Know You Were Shopping Instead of Working Yesterday
Millions of people had a big case of the Mondays on the first day back to work after the Thanksgiving holiday. That’s why you spent your day shopping – on Cyber Monday – instead of working. Don’t worry, we won’t tell your boss. (S/he was shopping too, anyway.)
Coremetrics released data on what is thought to be the biggest online shopping day of the year (it’s not). Here’s what they found:
Breaking it down by industry….
In-store Black Friday sales didn’t please Wall Street yesterday, despite an increase in online spending last Friday. Perhaps the death at a Walmart last year and not wanting to get out of bed at butt-ugly early in the morning has driven a shift in behavior.
“We are seeing good online buying momentum because people are looking for the very best deals, and are going online for the most convenient way to shop,” said John Squire, chief strategy officer, Coremetrics.
By the way, if you missed yesterday’s sales – don’t despair.
“We expect to see one more spike in online spending when the final “free-shipping-is-ending” promotions are announced,” said Squire. “Until then, retailers will watch consumer behavior very carefully to gauge what’s working well and what they need to adjust. The end result will be a boon to consumers, as retailers pull out all the stops to entice consumers to make that purchase.”