Holiday shopping was in full swing and this year gift givers didn’t seem to be holding back. Spending from November 1st to December 26th totaled $35.5 billion. This marks a 15% increase when compared to the corresponding days last year. Since 2001 only seven individual days have surpassed $1 billion in spending, six of those days have been in 2011. The highest online spending day totals $1.25 billion came on November 28, 2011, also known as Cyber Monday.
Many people did their holiday shopping online this year thanks to an increased number of coupons and free shipping deals offered by retailers. Online shopping has also been made much more mobile friendly through price comparison tools, specific retailer apps, and even discounts offered for shopping from a mobile app.
Black Friday showed the highest percentage change from 2010 with online shopping increasing in 2011 by 26%. While both Green Monday and Free Shipping day increased 22% and 14% respectively.
With such success and growth from the 2010 holiday season e-retailers likely had a very joyous holiday season.
Both small and large business should take notice of these numbers as they highlight the importance of e-commerce in expanding your business. Online stores not only generating revenue and generates customer interest but can increase your brands reach effectively without the high fixed costs of a brick and mortar store.
Fasturtle can build your online store with customizable product sections to perfectly fit your brand. You will be able to manage your product catalog quickly, easily, and for yourself. You can even manage multiple stores at a time.
Online shopping is here to stay. Representing approximately 8% of retail products sold in the United States, this $143 billion industry can have a profound impact on the growth of your company.
Fasturtle experts are here to assist you in setting up your online store. As your brand grows and your business needs change your e-commerce site can grow with you.
*Data provided by comScore