Online Fashion Retailers Breathe Sigh of Relief on CyberMonday
This year’s CyberMonday, the biggest online shopping day of the year, made a big change from last year’s dismal sales numbers. According to Coremetrics the 2010 sales for all sectors were up a whopping 19.4% compared to last year and this year’s cybermonday even beat the total sales of black Friday by 31.1%.
Analysts attribute this increase to a combination of factors including changing consumer buying habits, the expanded use of tablets and handheld devices as well as improving economic conditions, but the largest contributor is thought to be enticing deals aimed at pushing consumer’s buying buttons. To loosen up consumer's wallets, high-end online retailers offer a variety of deals including free shipping for orders over $100 at Victoria’s Secret, 40% off all purchases at Syrup Swimwear and free gift wrapping and a chance to win a $500 gift card at Neiman Marcus. Overall, luxury retailers as a segment, were reported to have had a 24.3% rise in sales in comparison to last year.
So whether selling gifts or receiving them, all signs indicate that this year’s holidays are going to be significantly brighter for all of us, and for that, we should raise our glasses of nog and all breathe a sigh of relief.