Yahoo Store Tips By 1 Choice: Cyber Monday

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Monday, December 01, 2008

Cyber Monday - Very Exciting Reports!

We were all a little scared when comScore put out a press release stating:

"Monthly retail e-commerce sales estimates, which showed that online spending in October 2008 grew by only 1 percent over October 2007, the lowest monthly growth rate since comScore began tracking e-commerce in 2001."

A new press release issued yesterday from comScore stated the following:

"For the holiday season-to-date, $10.41 billion has been spent online, marking a 4-percent decline versus the corresponding days last year, while Black Friday saw $534 million in online spending, up 1 percent. For the combination of Thanksgiving Day and Black Friday, online sales were up 2 percent relative to last year."

Today Shawn Collins Affiliate Tip Blog shared interesting statistics for retailers:

"More than 172 million shoppers visited stores and sites over Black Friday weekend this year, which was up from 147 million shoppers last year, according to the National Retail Federation’s 2008 Black Friday Weekend survey.

The survey also indicated shoppers spent an average of $372.57 over Black Friday weekend, an increase of 7.2 percent over $347.55 in 2007."

So everyone wondered.... what would Cyber Monday bring to online retailers?

So far, the news has been good!!

In fact, The Boston Globe posted an article on their website at 11:33 am this morning called "Akamai: Cyber Monday is off to a promising start." (Thanks Mike Ober at Yahoo for sharing!)

Next, Rob Snell shared with us via Twitter:

FYI: I'm seeing a CyberMonday 30.5% increase over same first 12 hours 2007 on my "index" ;) Sweet Christmas!

SWEET!

According to Sacramento Business Journal, even Paypal is seeing a huge increase:

"PayPal, the online payment service owned by San Jose-based eBay Inc. (Nasdaq: EBAY), said Black Friday transactions were up nearly 34 percent compared with 2007."

Plus we have read reports all weekend long that many online sites have had problems staying online or were extremely slow. Websites like Amazon, Sears, Home Depot, Victoria's Secret, and many more.

Why? Too much traffic! It is like gridlock in LA traffic (thank god I do not live there anymore)

This is GOOD news if you think about it. This means shoppers ARE coming online and according to many reports, they are buying!

BUT

Don't forget Yahoo Store Owners...this is not your busiest day!

Watch out for December 8th, 9th, and 15th according to Mike Ober via Twitter.

More info to come!

by: Shawna Fennell

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