Hurray for Cyber Monday
Wednesday, November 28th, 2007With the savory flavors of turkey, stuffing, and pumpkin pie still lingering in our minds and mouths, it’s hard to believe that another annual holiday is already upon us. Yes, that’s right, to the joy (and dismay) of many, the holiday shopping season has officially launched. And while I’m sure there are plenty of stories circulating about Black Friday escapades and toy store showdowns, I’m more interested in what happened on Cyber Monday.
For those of you who are unfamiliar with the relatively new term (circa 2005), Cyber Monday refers to the Monday following Black Friday when online retailers experience a spike in sales. It’s explained away like this: when shoppers return to work after the Thanksgiving holiday, they begin purchasing items over the internet that they couldn’t find in stores. Whether or not this term is valid is up for debate. Many critics and media experts argue that Cyber Monday is simply a marketing ploy. Either way, online retailers have been beefing up their advertising, sales, and promotions on that day in recent years, and shoppers have been receptive.
As predicted, this year’s Cyber Monday sales set some records. Similar to the in-store shopping trends from Black Friday, websites drew in more shoppers this year, but their spending habits trended down. Despite our seemingly tighter budgets, comScore reports that internet retailers raked in $733 million on Monday, which is a 21 percent increase over last year’s spending and the first time that daily online retail sales have topped $700 million. comScore also predicts that daily online sales totals will surpass $800 million a few times over the next month.
The retail sites with the most visitors on Cyber Monday were: Amazon, Wal-Mart, Target, Dell, Best Buy, Yahoo, Apple, Overstock.com, Circuit City, and MSN Shopping.
In other news, Yahoo experienced a NaviSite-like blooper on Monday, as thousands of sites powered by Yahoo Merchant Solutions reported technical difficulties for the better part of the shopping day. While these problems didn’t last for a week, and the sites weren’t completely out of commission, the technical difficulties did fall on the busiest online shopping day of the year. And, oh yeah, the glitches affected the checkout process, so shoppers received error messages right before they were about to (virtually) hand wads of cash over to these sites. The issues began at 6 a.m. on Monday morning and weren’t resolved until around 6 p.m. that night. Uh oh. The incident has Yahoo merchants threatening to go Google.
Other sites experiencing slowdowns because of heavy traffic on Black Friday and Cyber Monday include Buy.com, Eddie Bauer, J. Crew, Toys R Us, Costco, and Lowe’s.
In closing, I’d like to make a comment to whoever coined the term Cyber Monday. I don’t like it. Black Friday, I get. You rip yourself from a turkey-induced slumber at 4 a.m., travel off into the dark of night, and find yourself face to face with droves of vicious shoppers (with no souls) when you reach the mall. Um, scary. Compared with that, Cyber Monday just sounds lame…or kinky, I don’t know which’s worse.
