Wednesday, November 28, 2007

The unstoppable American consumer?

The power of the KPC gift guide keeps showing up in the marketplace. Monday was "Cyber Monday", the online equivalent of last week's brick and mortar "Black Friday" and sales were up 21% from last year.

Some details:

While the first Monday after Thanksgiving kicks off the online holiday shopping season, it's not the busiest day for retailers, according to comScore.

Last year, the busiest online shopping day was Wednesday, Dec. 13, generating $667 million in sales. The Monday after Thanksgiving was actually the 12th busiest day in terms of sales for the 2006 holiday period.

Nevertheless, the first Monday after Thanksgiving, known as Cyber Monday, represents the first big sales surge, as consumers return to their office and click on their computers to shop. ComScore said that Monday's sales results represented an 84 percent jump from the average daily online spending totals during the preceding four weeks.

More than $10.7 billion has been spent online from Nov. 1 through Nov. 26, marking a 17 percent gain from the corresponding days last year, comScore said.

Cool. I guess Daniel Gross was right.