WASHINGTON, Nov. 21 /PRNewswire/ -- While traditional retailers will be
monitoring store traffic and sales on Black Friday (the day after
Thanksgiving), online retailers have set their sights on something different:
Cyber Monday, the Monday after Thanksgiving, which is quickly becoming one of
the biggest online shopping days of the year. For the past few years, online
retailers have found that sales on the Monday after Thanksgiving have been
creeping higher, giving retailers an additional reason to be jolly during the
ceremonial kickoff to the holiday season. According to the Shop.org/BizRate
Research 2005 eHoliday Mood Study, 77 percent of online retailers said that
their sales increased substantially last year on the Monday after
Thanksgiving, a trend that is driving serious online discounts and promotions
on Cyber Monday this year.
"On Cyber Monday, consumers set their sights on surfing for holiday gifts
and shopping online," said Scott Silverman, Executive Director of Shop.org.
"This year, online retailers will be capitalizing on the increased traffic by
offering special promotions and discounts."
Experts believe that an increase in web traffic could stem from the fact
that consumers may have faster or more secure Internet connections at work and
choose to shop there, or that they were unable to finish all of their shopping
over the Thanksgiving weekend. Analysts also expect many consumers to shop on
Cyber Monday from home after work or when their children are sleeping.
Regardless of the reason or the time of day, consumers are expected to head
online in droves on Cyber Monday, many during work hours.
According to a recent Shop.org survey, conducted by BIGresearch, more than
one third of consumers (37%), or 51.7 million people, said they will use
Internet access at work to browse or buy gifts online this holiday season. The
survey found that more than half of young adults 18-24 (51%) and nearly half
of those 25-34 (49%) will be shopping online during work hours. The survey
also found that men (42%) are more likely than women (32%) to shop at the
Online retailers will be ready for the surge in sales, and many are
offering extra incentives to encourage people to shop online. According to the
eHoliday Mood Study, 43 percent of online retailers plan to offer special
promotions and discounts on Cyber Monday. Deals will range from free shipping
to gifts with purchase to percentages off.
According to the survey, the biggest Cyber Monday winners last year were
jewelry/luxury retailers, with 89 percent of websites seeing substantial
increases in sales, and consumer electronics retailers at 86 percent.
Retailers who offer food, beverages, or other gourmet items (83%) and
furniture and home decor (80%) also saw above-average sales surges.
Online Retailers Going All Out for Thanksgiving
Online retailers are also planning for large-scale promotions on
Thanksgiving Day, when most retail stores will be closed. The survey found
that 36 percent of online retailers will be offering special promotions and
sales on Thanksgiving Day. Some will even be offering their Black Friday
discounts one day early on their websites.
"Once the parades have ended and the leftovers are put away, many
consumers will find a few precious hours to get a jump-start on the holidays
by shopping online," said Chuck Davis, Chairman of Shopzilla. "This year,
retailers will be reminding shoppers that even though their stores may be
closed, their websites are always open."
According to results released last month, all of the companies surveyed
expect to see online sales increases from 2004. Some retailers are expecting
big gains, with 57 percent of online retailers expecting holiday sales to
increase by 30% or more compared to last year. One in five online retailers
are will experience hyper growth with sales of 75% or higher.
About the Survey
The Shop.org/BizRate Research 2005 eHoliday Mood Study is the only holiday
measurement tool that is based on data provided directly from online retailers
in addition to consumer data. The Shop.org/BizRate Research eHoliday Mood
Study, conducted by BizRate Research, a division of Shopzilla was designed to
gauge consumer behavior and online retailers' success during the winter
holiday season. The poll of 1,891 online buyers (defined as anyone who has
made an online purchase in the last twelve months) and 119 online retailers,
all members of Shop.org, was conducted September 23-26, 2005. The survey on
consumers shopping at work was conducted for Shop.org by BIGresearch from
November 2-9, 2005. The consumer poll has a margin of error of plus or minus
BIGresearch is a consumer market intelligence firm that provides unique
consumer insights that are gathered online utilizing very large sample sizes.
BIGresearch's syndicated Consumer Intentions and Actions survey monitors the
pulse of more than 7,000 consumers each month to empower its clients with
unique insights for identifying opportunities in a fragmented and changing
Shopzilla, formerly BizRate.com, is the most powerful and easiest-to-use
shopping search site on the Web. With an index of more than 30 million
products from more than 55,000 stores, Shopzilla uses ShopRank, a proprietary
patent-pending algorithm, to help shoppers instantly find virtually anything
on sale from anyone, anywhere on the Web at the best price. Shopzilla also
features powerful comparison tools and BizRate consumer reviews of stores and
products, the Web's largest and most trusted consumer feedback network. Every
week Shopzilla prepares millions of shoppers to make smarter, more confident
purchases and sends them directly to the checkout page of thousands of online
merchants. Shopzilla also operates the BizRate consumer feedback network with
more than 2.5 million members and about 1 million fresh reviews per month.
Shopzilla powers shopping search for many of the Web's largest consumer sites
including AOL, Lycos, Time Warner's RoadRunner, and many others. Founded in
1996, the Los Angeles-based company also operates sites in the United Kingdom,
France, and Germany. Shopzilla is owned by The E.W. Scripps Company
(NYSE: SSP), a diverse media concern with interests in national television
networks, newspaper publishing, broadcast television stations, TV retailing
and licensing and syndication. For more information, visit
http://www.shopzilla.com, the smarter way to shop.
Shop.org, the association for retailers online, is where the best retail
minds come together to gain the insight, knowledge and intelligence to make
smarter, more informed decisions in the evolving world of the Internet and
Multi-Channel retailing. Founded in 1996, Shop.org became a division of the
National Retail Federation in January 2001. The association's membership
includes interactive executives from store-based retailers, catalog-based
retailers, Web-based retailers, and retail solution providers.