SAN FRANCISCO – Online data tracker comScore says that web-based retail sites had a stellar Thanksgiving weekend. Sales from Friday through Monday increased 13 percent over last year, the New York Times reported.
A comScore senior industry analyst, Andrew Lipsman, told the Times, "It was higher than I would have anticipated, but I'm not entirely surprised, just because the level of discounting was so aggressive."
Sales on the Monday immediately following Thanksgiving-dubbed Cyber Monday-increased even more, gaining 15 percent on last year's totals. The day's online spending, $846 million, amounted to the second-highest online spending day ever recorded. (Dec. 10, 2007 holds the current record.)
Even so, the news isn't all good for retailers. Online sales overall have dropped 2 percent from 2007, and web buying accounts for just 7 percent of all retail sales.
Other trends in retailing are becoming apparent in this high-spending season:
—December receipts may soar, in part because there are five fewer days between Thanksgiving and Christmas than in 2007. Shoppers with fixed holiday budgets have had fewer opportunities to buy last month, so their spending will take place this month.
—Analysts are reporting smaller average order values, apparently a result of consumers reducing their spending.
—The silver lining in that cloud, however, is that beauty sales are up. Smaller items like cosmetics and skincare are increasingly popular. For the adult retailer, stocking up on body butter, shave gels, and bath products could lead to a more successful holiday season.
Source: New York Times
