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:
- Cyber Monday 2009 sales were up 24.1 percent compared to Black Friday 2009.
- Yesterday's sales were up 13.7% compared to Cyber Monday 2008.
- Online shoppers spent more per order on Cyber Monday ($180.03) compared to Black Friday 2009 ($170.19), an increase of 5.8%.
- The average dollar amount consumers spent per online order rose 38.2% this year ($180.03) compared to last year ($130.24).
- Consumers bought nearly 10% more items per order this year compared to Black Friday last week.
- Consumers bought almost 30% more compared to Cyber Monday 2008.
- The peak of consumer shopping was 9-10 a.m. PST, but held stronger momentum throughout the day than on Cyber Monday 2008.
Breaking it down by industry....
- Apparel and jewelry retailers is where the biggest increase in average dollar amount per ordre, up 26.4% and 14.3% respectively.
- Sports apparel and gear retailers were up 55% in new consumers visiting their sites. However, the average dollar per order declined slightly by 3.1%.
- Department stores saw a 3% increase in new visitors, but average order value was down almost 10%.
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."