Cyber Monday Over Black Friday?
I’m obsessed with Black Friday. Not the shopping part, but the consumer habits part. It amazes me how many people sit outside of a Best Buy (NYSE: BBY) and wait for only about a dozen super deals. Some Best Buy employees think its hilarious. Many stores have started to roll those savings into the weekend.
This weekend, I purchased a Canon 7.1 MP PowerShot SD1000 Digital Elph Camera w/ 3x Optical Zoom for $149.99 from Circuit City (NYSE: CC). By the the end of my shopping experience, I walked out about $212 poorer, but with a new camera, a 2GB SD card, a camera case, and a 24-month warranty. Not bad. But I took the lures, and chomped down hard.
According to comScore, Black Friday spending is up 22%.
More than $9.3 billion has been spent online during the season-to-date, marking a 17-percent gain versus the corresponding days last year. Online retail spending was strong on both Thanksgiving Day (up 29 percent to $272 million) and “Black Friday†(up 22 percent to $531 million), outpacing the season-to-date growth rate.
The sale of video games, consoles, and accessories is up 134% from last year. While flat panel TVs received the hype last year, this year has clearly been video game focused. Regardless of the focus, Black Friday is always the benchmark for retailers. It has historically been a fairly accurate forecasting tool for Cyber Monday and the rest of the holiday shopping season. comScore Chairman Gian Fulgoni believes that Cyber Monday spending will exceed $700 million. At a 22% clip, he might be right.
Some think the name Cyber Monday is dumb (I do). Other seasoned online shoppers actually believe that Cyber Monday is a joke. Not likely. The trend so far suggests that online retailers will have the last laugh.
Walmart.com Turns Cyber Monday Into Cyber Week
Walmart.com (NYSE: WMT) is extending its Cyber Monday sale through December 1. While this may not be a trendsetting move, certainly it will keep consumers’ attention. Huge Cyber Monday Savings at Walmart.com will turn into a week long shopping spree. Last year, Walmart.com pushed its toy promotions with $0.99 shipping. However, with all of the toy recalls this year, toy safety is a huge concern and are expected to affect toy sales this year.
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November 26th, 2007 at 6:43 pm
All this marketing drives me into a cave until, say, december 24th. Nuts. I wonder if it all so neccessary especially wal-mart?
joe
November 29th, 2007 at 10:51 pm
I have not found any killer deals yet!
December 1st, 2008 at 2:04 am
[…] Hot Spots. Last year, I took advantage of deals on both Black Friday and Cyber Monday. In 2007, BestBuy.com experienced the most growth of any of the Top 10 online […]