Cyber Monday, Profitless Boon?
ADOTAS — Online spending Monday was the second highest on record, but there was still questions if companies discounted themselves out of a profit.
Consumers spent $846 million, up 15 percent, according to comScore. For the past holiday month, $12.03 billion has been spent, a 2 percent decline from last year. But over the four days from Friday to Monday, e-commerce saw spending jump 13 percent, the digital tracking company said.
“Mark Twain might have said: ‘Rumors of the death of online holiday shopping have been greatly exaggerated’,” said comScore chairman Gian Fulgoni “Consumers are clearly responding positively to retailers’ aggressive online discounts. With Cyber Monday promotions beginning in earnest over the Thanksgiving weekend, consumers have finally begun to open their wallets, setting off a streak of four consecutive days of extremely strong growth, and culminating in a Cyber Monday that racked up an impressive $846 million in online spending, up 15 percent over last year and ranking it as the second heaviest online spending day on record. This is an extremely encouraging development for retailers and we can but hope that their aggressive discounting has still left room for profits.”
ComScore noted some key findings:
- More than half, 51 percent, of consumers indicated that the level of promotions and discounts is higher this year than last year, while only 12 percent said that there appeared to be fewer, suggesting that retailers are having to be more aggressive in discounting to spur consumer spending.
- 39 percent of consumers said that there seemed to be fewer people out shopping in retail stores this year than last year, while only 7 percent thought there were more.
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