Posts Tagged ‘black friday’

2010 Online Holiday Shopping Season Was Biggest Ever – Mashable.com

January 7, 2011

2010 Online Holiday Shopping Season Was Biggest Ever
By Jennifer Van Grove, January 5, 2011
Mashable.com

The 2010 U.S. online holiday shopping season fared remarkably well. Black Friday online retail sales soared and Cyber Monday made history when consumer spending exceeded $1 billion for the first time in a single day. When all was said and done, the November to December holiday season brought in $32.6 billion in retail e-commerce spending.

he enormous figure represents an all-time high for the season and marks a 12% increase in spending over the previous year, according to comScore.

Online shoppers put their credit cards (and PayPal accounts) to work for the entire season, but more so on Cyber Monday, which was the heaviest online spending day of the year with $1.028 billion in total spending. It was the only day to break the $1 billion threshold, but seven other days surpassed $900 million in spending.

Monday, December 13 — also known as Green Monday — was the second biggest online spending day of the year pulling in $954 billion. Monday, December 6 and Friday, December 17 (Free Shipping Day) followed closely behind with $943 billion and $942 billion in online spending respectively.

comScore credits holiday promotions, discounted merchandise and free shipping offers with helping propel the 2010 season to become the biggest yet. In fact, free shipping “was used in more than half of all e-commerce transactions this season, up significantly from last year,” according to comScore chairman Gian Fulgoni.

While we can’t yet know if online spending in 2011 will outpace that of 2010, the strength of this past holiday season highlights that consumers are spending more online than ever before. Hopefully, it’s a trend that will continue.

Image courtesy of Flickr, Ben Garney

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Let the (Online) Shopping Begin

December 1, 2009

Today is Cyber Monday- the day retailers cater to their online shoppers with special deals like free shipping and discounted items.

Have you done any online shopping? Have you taken advantage of any deals, and if so, where did you hear about them? We loved this Newsweek article about Cyber Monday and the growing influence of social media in online and traditional shopping. Enjoy!

Let the (Online) Shopping Begin

Black Friday is old news. This year, the real retail boom will arrive on Cyber Monday.  By Nancy Cook | Newsweek Web Exclusive

Nov 25, 2009

Forget Black Friday. The real bargains this year are showing up on Cyber Monday, the first work day following Thanksgiving when people return to their offices, ignore the tasks at hand, and begin to surf the Internet in earnest for this year’s holiday gifts. Roughly 45 percent of online retailers expect their holiday sales to increase this year by at least 15 percent compared with 2008, according to the industry group Shop.org. “People view the Internet as the place to save money and find the best prices through comparison shopping,” says Scott Silverman, Shop.org’s executive director.

Online sales may be the lone sweet spot for retailers in this otherwise dismal economy. With double-digit unemployment and a foreclosure crisis that just won’t quit, consumers are expected to spend even less this season. Overall, the National Retail Federation expects consumers to spend an average of $682.74 on holiday-related gear, food, and gifts, compared with an average of $705.01 in 2008.

While traditional retailers have had their ups and downs over the last decade, online sales have risen steadily since 1999. That’s when companies such as Amazon.com, Priceline, and eBay first rose to prominence, prompting NEWSWEEK to proclaim that these three businesses had set out to “change the way you shop.” Since then, the sector has grown from a $4.6 billion industry to a $31.5 billion industry. “The story of the last decade is that there has been consistent 20 percent growth,” says Ken Cassar, vice president of industry insights for the Nielsen Co., about online shopping.

That growth may have something to do with online retailers’ willingness and ability to pass on their reduced overhead costs in the form of discounts to consumers. Roughly nine out of 10 online businesses recently surveyed by Shop.org planned to offer some type of promotion for Cyber Monday in the form of one-day sales, free shipping, and “deal of the hour” sales. Roughly 57 percent plan to offer free shipping this year; Target started waiving shipping and handling fees on Nov. 1, a full two weeks before the promotion normally starts. This year, about 15 percent of all retailers will no longer require consumers to spend a certain amount of money to qualify for free shipping.

For their part, traditional retailers are increasingly making use of online social-networking sites like Twitter and Facebook to drive foot traffic and boost in-store sales. Staples and Toy “R” Us are letting followers know about special deals on a daily basis. Toys “R” Us sent its Facebook fans an announcement on Wednesday—a full two days before the “holiday”—that detailed its Black Friday specials. Other stores such as Best Buy, Gap, and American Eagle are using these sites to hand out coupons, much the way they once relied on grocery-store or newspaper circulars. “Social media stimulates sales and creates demand,” Silverman says. “It’s a great way to communicate with your customers.”

From the retailers’ perspective, the best part about online holiday shopping is that its success is not measured on a single day. The results from Black Friday are often used to forecast consumers’ moods about the entire holiday season or, worse, the first quarter of the following year. By comparison, online holiday shopping remains steady throughout the month of December, says Andrew Lipsman, director of industry analysis for ComScore, a research firm. If there is a peak with holiday online sales, it happens over an entire workweek, usually between Dec. 10 and 15, he says.

Even with this cheerleading over online sales, retail researchers acknowledge that e-commerce will never really usurp Black Friday. Online retail spending year-round—including spending on food, cars, and gas—still accounts for just 8 percent of retail sales overall, says Lipsman. “People like to get out into a store,” he says. “Black Friday is [still] a cultural phenomenon.”

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Retailers use social media to advertise Black Friday deals

November 27, 2009

Happy day after Thanksgiving from Blue Media! Now that the food and fellowship have subsided, the shopping season is upon us!

Today is Black Friday, which officially kicks off the holiday shopping season. The term ‘Black Friday’ dates back to at least 1966. It originated in Philadelphia in reference to the heavy traffic on that day. More recently, merchants and the media have used it instead to refer to the beginning of the period in which retailers go from being in the red (i.e., posting a loss on the books) to being in the black (i.e., turning a profit).

We loved this AP article about social media being integrated into the Black friday festivities!

Did you use any social media today to find deals or information? Let us know in the Comments secition! 

Retailers use social media to advertise Black Friday deals

By BETSY VERECKEY, Associated Press, Last update: November 12, 2009 – 4:35 PM

NEW YORK – You may want to check Facebook and Twitter before heading to the mall the day after Thanksgiving.

Office supplies chain Staples Inc. this week used social media to advertise price cuts of nearly 50 percent for Nov. 27 on certain laptops, GPS devices and computer monitors, and still other merchants are expected to follow suit.

Dan de Grandpre, editor-in-chief of dealnews.com, said retailers are smart to use social networking sites because shoppers probably will stick around as followers of the company even after the sale.

“Twitter and Facebook are now major ways to disseminate information,” Grandpre said.

One in five shoppers plans to use the sites in their holiday shopping this season, according to Deloitte Research.

Hundreds of Black Friday bargains from retailers such as diverse as OfficeMax and Old Navy already are being leaked on deal sites, even though the big sales blitz is still a couple weeks away.

And the fun won’t end Nov. 27, traditionally seen as the day that the holiday shopping season launches.

After that, an iPhone application from dealnews.com that now tracks Black Friday deals, for instance, will show sales for the following Monday, now known as Cyber Monday because it’s the first weekday after the Thanksgiving weekend and many consumers shop from their desks that day.

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Bargain hunters tap social media for holiday deal tips

November 24, 2009

Bloomberg’s Gigi Stone reports on the use social media websites for exclusive member-only holiday shopping promotions.

And if you want to hear more from the Best Buy Twelpforce Carolers, check this out.

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