Holidays
Back to work and hunting for holiday bargains online
12:17 PM EST on Monday, December 1, 2008
The Providence Journal / Frank Gerardi
Retailers are angling for attention online today, trying to grab sales from people who may not have been impressed with the prices they found in stores during the long holiday weekend.
Surfing the Web for bargains on the Monday after Thanksgiving has become almost as traditional as the bleary-eyed trudge many Americans force upon themselves on Black Friday — itself one of the heaviest shopping days of the year.
A survey commissioned by Shop.org, a division of the National Retail Federation, found that 55.8 percent of people with Internet access at work — amounting to nearly 73 million Americans — will shop from their place of employment today. In 2005, slightly less than 45 percent of workers did so.
Retailers, whether operating exclusively online or those who also operate bricks-and-mortar stores, understand Americans are more price conscious than ever.
“With consumers looking to save money due to the economy, the savings factor is playing a key role in keeping online shopping growing,” said Scott Silverman, executive director of Shop.org, a unit of the National Retail Federation. “Consumers can comparison shop much more easily [online] than in other retail formats.”
In a survey of 2,040 shoppers conducted Sept. 29 through Oct. 3, Shop.org found that 23 percent said they were spending more online due to high gasoline prices. Even though gasoline prices have cratered since then, falling to below $2 a gallon in many places, larger economic forces are expected to drive online shopping.
Also, shopping online continues to gain popularity because many Web sites are easier to use than earlier incarnations, have more interesting facets and people are getting more comfortable with the concept, according to retail analysts.
Forrester Research predicts online retail sales will grow 12 percent this holiday season, the slowest growth to date but more than five times the 2.2-percent increase the NRF predicts for sales in November and December.
“Online retailers are resilient when it comes to the economy, but they’re not immune,” Silverman said. He attributed the slower growth partly to the maturation of the online market. “It’s challenging to keep up those really high growth rates.”
Online retail spending in October grew only 1 percent from the same month a year ago, the lowest growth rate since 2001, according to comScore Inc., a Chicago market researcher.
For the first three weeks of this month, online sales actually declined 4 percent to $8.2 billion from $8.5 billion for the same period last year, according to comScore. ComScore predicts online sales through the end of this year will total $29.2 billion, flat with last year.
But retailers are nothing if not optimistic. More than half of the 60 online retailers surveyed by Shop.org said they anticipate sales to increase at least 15 percent from last year.
Shop.org expects online retail sales to rise 17 percent for the whole year, to $204 billion.
To grab some of those late-year sales, hundreds of retailers posted one-day sales specials online today — more than 600 alone on CyberMonday.com.
“The Monday after Thanksgiving is expected to be more promotional than ever this year as retailers offer one-day sales and special offers to bring holiday shoppers online,” said Shari Brown, founder of handbag retailer LuxCouture.
Regardless of the predictions, “whether [people] make those holiday purchases online or in stores, the Internet will have a tremendous influence on holiday sales this year,” said Helen Malani, of Shopzilla.
| Richmond animal behaviorist says it's about control, not punishment | |
| Providence College's 'grunge' edition of Romeo and Juliet | |
| Brown engineering students race cars you can compost |
More holiday stories
More lifebeat stories
Most Viewed Yesterday
The hunt for Stephen Saccoccia’s hidden assets
Vehicle fatalities climb in R.I.
Suspect shot during struggle with undercover officer
Patriots journal: Belichick says Moss is smartest receiver he’s seen
Most active surveys
Are the Yankees on the brink of another dynasty?
Is it a bad thing or a good thing that prostitution is legal in Rhode Island, indoors?
What's your favorite breakfast/lunch place?
React to Carcieri's veto of R.I.'s first saltwater fishing license
Has your behavior changed in light of the swine flu outbreak?
Most e-mailed in the last 24 hours
Reader Reaction









You must be logged in to contribute. Log in | Register Now!
You are logged in as screenname | Log Out
You are logged in, but do not have a "screen" name. Create a Screen Name