Search
 

Cyber Sales

The best indicators that we are moving closer to Internet retail nirvana are the reports this week about retail sales on Cyber Monday, the Internet’s response to Black Friday.

By Tony LoPinto | Updated on December 06, 2011

Cyber Sales During the dotcom boom in the late 90s, obituaries heralded the end of the retail store and predicted that the Internet would overtake brick and mortar, becoming the channel of choice for consumers to buy everything from automobiles to Kleenex. Although it didn’t happen wholesale, this decade-old prediction has played itself out in some respects – the death of the bookstore is approaching, and remember Blockbuster? Amazon.com is aggressively pursuing a frontal attack on retail sales, and the best indicators that we are moving closer to Internet retail nirvana are the reports this week about retail sales on Cyber Monday, the Internet’s response to Black Friday. ComScore reported on Sunday that shoppers spent nearly $6 billion online on Monday through Friday last week, a new record, and on Monday sales exceeded $1.25 billion. During the month of November, online sales were up 15% year over year. In the face of this news, the International Council of Shopping Centers is holding its December conference this week in NYC. Attendance is up, and the mood is buoyant as retail sales are strong heading into the season. Clearly most attendees pooh-pooh the Internet threat. But with 280 million data-capable, retail-purchasing devices in the hands of US consumers today, including 95.8 million smart phones and wireless-enabled laptops, notebooks, tablets or wireless broadband modems…ICSC beware!

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.