The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Cyber Monday may finally have a name, but it’s a concept that’s becoming outdated. More consumers shopped online on the day after Thanksgiving than on the Monday after Thanksgiving, says a consumer survey from Deloitte & Touche.
Cyber Monday may finally have a name, but it’s a concept that’s becoming outdated already. More consumers shopped online on the day after Thanksgiving, known to retailers as Black Friday, than on the Monday after Thanksgiving, dubbed Cyber Momday last year by trade group Shop.org, says a consumer survey from Deloitte & Touche USA LLP.
20% of consumers shopped online on Nov. 24 and 18% on Nov. 27, says the survey of 1,101 adult consumers on Nov. 28. 12% said they shopped online on Thanksgiving.
Further, the notion of consumers arriving at the office and logging on to their employers’ high-speed Internet access is becoming equally outdated, the survey reports. Of those who shopped online Monday, 84% did so from home, while 25% did so from work.
"This year, with more high speed connections in homes, consumers were more likely to shop on Friday and less likely to wait until Monday to use high speed connections at work,” says Pat Conroy, vice chairman and national managing principal of Deloitte`s Consumer Business practice. “There are lessons to be learned for shopping sites in terms of heavy usage periods and making online shopping a relaxing, enjoyable experience."
In addition, 47% of those who shopped online on Friday also shopped in stores. “That underscores the need for retailers to have a streamlined, seamless multi-channel presence," Conroy says.
Finally, the survey also reported that while 16% have already spent more than $500 on gifts this holiday season, 37% still have 10 or more gifts to buy. Only 6% have completed their shopping.