Cyber Monday sales hit record as Amazon, EBay win shoppers

Cyber Monday sales surged, sending online shopping toward a single-day record as Amazon.com Inc. and EBay Inc. siphoned consumers from brick-and-mortar stores. More

To continue reading this article, please do one of the following.



retail

Cyber Monday sales hit record as Amazon, EBay win shoppers

BLOOMBERG FILE PHOTO/DAVID PAUL MORRIS
AN EMPLOYEE LOADS a truck at the Amazon.com Inc. fulfillment center in Phoenix, Ariz., on Monday, Dec. 2. Online sales on Cyber Monday surged 19 percent over last year, according to International Business Machines Corp.
Posted 12/3/13

SAN FRANCISCO – Cyber Monday sales surged, sending online shopping toward a single-day record as Amazon.com Inc. and EBay Inc. siphoned consumers from brick-and-mortar stores.

Online sales rose 19 percent from 2012 as of 9 p.m. in New York Monday, International Business Machines Corp. said in an emailed statement. Retailers catering to smartphone and tablet users benefited the most, with mobile traffic accounting for 30 percent of the total site visits, an increase of more than 58 percent from last year, IBM said.

The results deliver another blow to physical stores, which just suffered the first spending decline on a Black Friday weekend since 2009. Web sales this holiday season are projected to climb as much as 15 percent to $82 billion, more than three times faster than total retail growth of 3.9 percent to $602.1 billion, the National Retail Federation said. Mobile devices drove 16 percent of online purchases, IBM said.

“The results thus far from an e-commerce perspective have been very strong - certainly strong relative to brick-and- mortar stores,” Ron Josey, an analyst at JMP Securities Inc. in New York, said in an interview. “This is the first holiday season where mobile is absolutely having its mark on overall retail sales, whether that’s from a smartphone or a tablet. It’s not going away.”

Amazon rose 0.1 percent to the equivalent of $392.65 in German trading as of 12:03 p.m. in Frankfurt, while EBay gained 0.4 percent to the equivalent of $51.55.

Store slowdown

Retailers like Seattle-based Amazon are chasing e-commerce holiday revenue that Forrester Research Inc. projects to rise 15 percent to $78.7 billion. Online spending increased 15 percent to a record $1.2 billion on Black Friday, according to research by ComScore Inc.

Still, because of the in-store slump, total purchases fell 2.9 percent to $57.4 billion during the four days beginning with the Nov. 28 Thanksgiving holiday, according to a survey commissioned by the National Retail Federation.

Online retailers are catering to consumers such as Camille Schmidt, 25, who owns a marketing company and primarily shops on the web. Schmidt scanned her email for big discount headlines Monday morning and allotted time to shop after work in the evening.

Next Page
Calendar
PBN Hosted
Events

See the List of 2014 Winners. And save the date - September 10th - for the 3rd Annual Fastest Growing & Innovative Companies program at Rosecliff Mansion in Newport.
  • Healthiest Employers
    Thank you to all who attended the 3rd Annual Healthiest Employers Luncheon today ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement