The US’s biggest retail shopping day of the year turned out fine after all, although the results were likely nowhere near as good as investors would have liked. While data shows brick-and-mortar retail sales were up 3 percent, online sales rose only 1 percent.
comScore says that $534 million was spent by consumers online on Friday, likely attracted by better-than-normal deals being offered by desperate retailers. There was some crazy deals: the Epson store offered its R280 photo printer for $29.99, a $70 savings.
Traditionally, heavier online shopping comes today, known as “Cyber Monday.” This is basically due to the fact that as people return to work, they use their downtime to further complete their holiday shopping. It has also been perpetuated by online retailers, which have begun to offer special deals just for the day.
Looking around, there’s not as many deals this year, although Best Buy has its own special page as does competitor Circuit City. comScore says to watch the growth for Cyber Monday: typically it has come within a few percentage points of the overall holiday season growth for online shopping.
If comScore is right, expect that number to be flat. The firm says it sees no growth year-over-year for online shopping.
By Ed Oswald | Monday, December 1, 2008 at 10:23 am