Online Shopping in Nov. At All-Time Record Highs
"Cyber Monday" sales set a new all-time single day record for e-commerce sales of $733 million, according to comScore, representing a 21% increase over last year. While Monday represented the first time ever more than $700 million was spent in a single day by online shoppers, comScore said that it expects spending on some days may exceed $800 million in the coming weeks. Further, online shopping for the month of November so far is also up significantly from the same period last year by 17%, see chart above, and online shopping on Thanksgiving and Black Friday are also up by more than 20% from last year.
What recession?
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Fed Says Economy Logged Slower Growth As Shoppers Watched Pennies Heading Into Holiday Season
http://biz.yahoo.com/ap/071128/fed_economy.html
Online sales represent approximately 3% of all retail sales.
Hopefully this trend continues for the entire holiday season. I would like to see how deep the retailers are discounting the goods this year compared to in the past. When the bargains are over will the money still continue to flow?
Good point flintgrad07! I'm on a buying spree right now and paying anywhere from 30% to 80% of Sept. 07 retail prices. I haven't seen discounts and incentives like this for years.
I'm stocking up for the future as well as buying needed items in this tax year.
When the party is over and no more discounts are available I'm going to stop buying for a long time.
I wonder if many others are doing the same thing?
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