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Last week we explored the Thanksgiving/Black Friday related increase in in-store sales. This week, we see the impact of Cyber Monday deals on online shopping. Consumers took advantage of Cyber Monday week deals, spending on average $300 online, while spending only $244 in-stores. Year-to-year, 2012 was a much better year for retailers. Consumers spent 50% more this year on Cyber Monday deals than they did last year. Maybe this is a result of deeper discounts, or maybe consumers are not feeling as pinched, but it is certainly good news for online retailers.
Looking at where consumers spent their online dollars, Amazon and Walmart come out on top. Two out of 3 online consumers purchased from Amazon during the week of Cyber Monday, and 1 out 3 purchased from Walmart.com. Ebay.com, Target.com, and Bestbuy.com were other popular outlets among online shoppers.
True to form, Toys/Games , Clothing/Shoes, and Electronics where popular items for Cyber Monday shoppers, with around 2 out of 5 shoppers buying these items. However, while Clothing/Shoes were prevalent for Cyber Monday purchasers, more Black Friday shoppers purchased this category then Cyber Monday shoppers did. I think this speaks to the success of Black Friday door-buster deals. Walmart, Target, Kohls, and many other retailers featured deep apparel discounts to help lure consumers into store on Black Friday, and so half of these shoppers took advantage of these deals.
The big push online helped consumers check off items on their holiday shopping lists. As of December 2, 82% of consumers has begun their holiday shopping and 1 out of 3 were almost finished.
We are now less than a month away from the main event and I can’t wait to find out how consumer behavior changes as we get closer and closer to crunch time.
Debra Miller Arbesman is senior associate, retailer and consumer products at Compete, a Kantar Media company that helps brands improve their marketing based on the online behavior of millions of consumers.