Is Online Commerce Holiday Season’s Silver Lining?

December 3, 2013 • Fashion Blog, Holiday, Shopping

 

Gilt Groupe Cyber Monday giltcom

This is the season to shop till you drop, but with online shopping sitting at your fingertips there’s no need to drop, just keep shopping. E-commerce is shaping up to be the holiday season’s silver lining thus far. While Black Friday sales were underwhelming this year, Cyber Monday was off to a great start, being on track to be the biggest online shopping day ever. By 6 p.m. Eastern time on Monday, online sales were up 17.5 percent from last year, according to IBM Digital Analytics Benchmark. It was estimated that shoppers would spend about $2 billion, which was an increase from last years $1.46 billion.

Retailers were aggressively promotional online even before Thanksgiving Day, eating somewhat into the hubbub surrounding so-called Cyber Monday. Consumers were definitely engaged and eager to shop, which was good news for retailers and consumers, who scored some amazing discounts without the risk of being elbowed or trampled by other shoppers. Although online sales have climbed, unfortunately the lack of consumer dollars from brick-and-mortar retailers is leaving the overall picture for holiday decidedly bland. There was an increase in brick-and-mortar doors opening this Thanksgiving Day trying to create competition for what’s typically been a strong day for e-commerce. According to IBM, retail sales overall are headed for an increase in the low single digits.

-Keyera Simmons

Sources: WWD, NYMag

Photo: WWD

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