Monday, November 29, 2010
Santa Claus' Job Just Got Easier
The 2010 Holiday shopping period got off to a fierce start this weekend, but it was primarily fueled by mouse clicks, rather than store stampedes. For the first time ever, online retail shopping year-over-year growth surpassed in-store purchase rate, proving that "the digital raindance" has forever changed Holiday shopping. With consumer electronics and apparel leading the way, online retail purchases during Black Friday weekend rose by 16 percent, according to UBS retail analysts. In-store sales were about 6 percent higher than last year. Those retailers with user friendly online sites and free shipping are expected to rule Cyber Monday results when it's all said and done. Early reports show that Nordstrom, Macy's, Abercrombie & Fitch and Urban Outfitters could show year over year increases of about 20 percent. Best Buy, Walmart, Target and Internet giants, Amazon and Ebay are also expected to show positive results. It looks like Santa Claus' job may be getting easier.