The Peak of Holiday Shopping?
According to comScore, online revenue since early November is up 3% compared to the same time last year. But, Andrew LaVallee, at the Wall Street Digits blog says that all eyes are on Green Monday, December 14th, slated to be the largest online shopping day of the year.
This year’s Cyber Monday drew $887 million of consumers’ dollars while sales for the next day were a mere $1 million less. Only thirteen days in history have topped $800 million in online sales, with four of the top 10 having having occurred in 2009, said comScore. But analysts are hopeful that as consumers scramble to get their holiday shopping done; Green Monday is expected to surpass the $900 million benchmark, a sum yet to be reached in one online shopping day.
After a promising Black Friday start, Lazard Capital Markets believes that growth rates will remain positive until the end of the holiday season as spending continues to be strong. It seems as if retailers are successfully scaling up traffic by significantly slashing prices in order to entice consumers.
Via Andrew LaVallee @ The Wall Street Journal
