I Got Me the Cyber Monday Blues
ADOTAS — While online holiday spending on Friday was up 1 percent, spending in the past month saw a 4 percent decline, at $10.4 1 billion, from last year.
But since most people return to work today, and buying online at (ahem) work accounts for about half of all spending, today is an important measure. ComScore says the spending combination of Thanksgiving Day and Black Friday was up 2 percent from last year.
Though retail stores were encouraged with spending for the last few days, it was the deep discount bargains that drove people in (we’ll call them a mob). The discounts may have driven the holiday weekend sales but do nothing to help profits.
ComScore Chairman, Gian Fulgoni said Cyber Monday has proven to be a good indicator of how the holiday e-commerce will play out, with a caveat.
“With so much volatility right now in the variables that influence consumer spending, predicting where this online holiday season will end up has been for more challenging than in previous years,” he said.
The digital tracking company has predicted a $29.2 billion holiday online season, which would be the same as last year.
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