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Cyber Monday and Holiday Shopping Numbers at an All-time High

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After all the hustle and bustle of Cyber Monday, or the 29th of November, Internet marketing research company, comScore, released figures showing that the ecommerce “holiday” saw online spending reach an all-time high of $1.028 billion, an increase of 16% over last year. This also makes this year’s Cyber Monday—a neologism first coined in 2005—the most lucrative ever, reaching billion-dollar figures for the first time.

Other significant increases during Cyber Monday include a jump in overall online transactions, up by 17.1 million from 16.2 million in 2009, and an increase in spending for every single transaction, from $54.83 in 2009 to $60.05 this year.

Though a US term and phenomenon, the attached graph from the UK Hitwise group points to a similar trend in UK online retail traffic showing similar trends and annual spikes.  Clearly there are parallels with other discretionary spend product is other markets like automotive performance.

comScore also provided insights on where online shoppers prefer to do their shopping. The report indicates that close to half (48.9%) of Cyber Monday’s shoppers made their transactions from work and office computers, while the remaining majority (45.4%) bought goods and other items from their homes. Rounding them off are the 5.8% of international shoppers who availed of the discounts offered by US websites.

And with Christmas and New Year’s still to come, Enform joins other experts in expecting these numbers to grow to record-breaking numbers. Indeed, with the Australian trend toward online retail in place of bricks-n-mortar stores for imported products, this year is going to be an exciting one for online business and it looks to stay that way for 2011.

Source: http://www.marketingcharts.com/direct/cyber-monday-breaks-online-shopping-records-15194/

Online Retailers Confident this Holiday Season

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Online retailers seem to be growing optimistic as the holiday season quickly approaches. A recent study on the expectations of online entrepreneurs and retailers suggests that confidence in strong sales this year has improved by a significant margin over the last.

According to a study BIGresearch did for Shop.org, a major percentage of online retailers expect their respective company’s annual holiday sales to grow by up to 15% or more over last year. The eHoliday Study shows that 64% or two-thirds of online store operators expect their holiday sales to bring in more revenue compared to last year, a significant jump from the 46% who expected those figures in 2009.

online-retailers-confidence

A closer look at the confidence of online retailers for the 2010 holiday season indicates that around 6% of people who run online companies and businesses expect “hypergrowth” of up to 75% or more this year, a decrease from the 12% who had the same expectations last year.

Clearly the online retail demand statistics will vary between industries and product groups. For example, the accompanying chart shows Australian online searches for games consoles with a significant peak for all variants over the Christmas period. Predicable for a game, toy or discretionary luxury but automotive performance products can be viewed in the same way.

Taking these numbers into consideration, Enform believes it’s now safer to say that retailer confidence is slowly getting back to normal after the recession. However, within the data are prompts for recognizing the opportunity for promotion of one’s performance products as potential gifts for the holiday season.   The most likely recipients in this case will be the “giver” themselves as they reward themselves with extra holiday pay or bonuses. Tap in to the upbeat holiday season retail vibe and offer your customers a reason to buy your product as a gift instead.

Source: http://www.retailerdaily.com/entry/57177/online-holiday-sales-growth/?utm_campaign=rssfeed&utm_source=rd&utm_medium=textlink?utm_campaign=headlines&utm_source=mc&utm_medium=textlink