Cyber Monday online spending up according to Coremetrics report

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SAN MATEO, Calif., December 01, 2009 – The U.S. online retail sector reported strong sales results on Cyber Monday (Nov. 30) 2009 compared to the same period last year according to Coremetrics. This analysis, delivered as part of Coremetrics’ second annual Cyber Monday Benchmark Report, reveals the following trends and patterns as of 12 a.m. PST:

  • Cyber Monday continued the momentum set by Black Friday. Sales were up 24.1 percent compared to Black Friday 2009.
  • Consumers spent more per online order ($180.03 versus $170.19 for an increase of 5.8 percent) compared to Black Friday 2009.
  • Sales were up 13.7 percent compared to Cyber Monday 2008.
  • The average dollar amount consumers spent per online order rose 38.2 percent from Cyber Monday 2008 ($180.03 versus $130.24), led by apparel retailers.
  • Consumers bought nearly 10 percent more items per order on Cyber Monday 2009 compared to Black Friday 2009 and nearly 30 percent more compared to Cyber Monday 2008.
  • Consumer shopping hit its peak from 9-10 a.m. PST, but maintained stronger momentum throughout the day than on Cyber Monday 2008.

“We are seeing good online buying momentum because people are looking for the very best deals, and are going online for the most convenient way to shop,” said John Squire, chief strategy officer, Coremetrics. “We expect to see one more spike in online spending when the final “free-shipping-is-ending” promotions are announced. Until then, retailers will watch consumer behavior very carefully to gauge what’s working well and what they need to adjust. The end result will be a boon to consumers, as retailers pull out all the stops to entice consumers to make that purchase.”

Retail Categories compared to Cyber Monday 2008 (year/year):

  • Apparel retailers and jewelry retailers reported the biggest jumps in the average dollar amount consumers spent per online order, up 26.4 percent and 14.3 percent respectively.
  • Sports apparel and gear retailers reported a rise of nearly 55.0 percent in the number of new consumers visiting their sites. But the average dollar amount consumers spent per online order declined slightly by 3.1 percent.
  • Department stores also did a good job of attracting new consumers to their sites, reporting a 33 percent increase. However, average order value was down nearly 10 percent.

Source
These findings are based on data from Coremetrics Benchmark™, the industry’s only peer-level benchmarking solution that measures online marketing results, including commerce data, against those of the competition. More than 500 leading U.S. retailers, contribute their analytics data to Benchmark. All data is aggregated and anonymized. Abercrombie & Fitch, Bath & Body Works, Bloomingdale’s, Coldwater Creek, L’Occitane en Provence, Macy’s, Nordstrom, Office Depot, PETCO and Williams-Sonoma are just a few of the participating companies.

Coremetrics recently enhanced Benchmark to include near-real-time data and added advanced functionality, such as sales trends by comparison period, conversion rates from Pay per Click (PPC) campaigns, and website traffic by browser type. Over the last year, Coremetrics has nearly doubled the number of companies participating in Benchmark.

Coremetrics Benchmark comes standard with Coremetrics Analytics for no
additional cost.

Attachments
1. Complete Coremetrics Cyber Monday Benchmark Report (pdf)

About Coremetrics
Coremetrics is the leader in marketing optimization. Its products help businesses relentlessly optimize their marketing programs to make the best offer, every time, anywhere, automatically. More than 2,000 online brands globally, transacting more than $20 billion this year, use Coremetrics’ Software as a Service (SaaS) to optimize their online marketing. Coremetrics’ solutions encompass advanced online analytics and integrated marketing optimization applications, including search engine bid management, email targeting, ad impression attribution and cross sell recommendations to acquire customers more cost effectively, increase conversion rates, and increase lifetime customer value. Coremetrics is consistently recognized by industry analysts and thought leaders, and in 2008 was named to Deloitte’s Technology Fast 50 Program for Silicon Valley Internet, Media, Entertainment and Communications companies. The company is privately held with funding from Accel Partners, FTV Capital, Highland Capital Partners, and W Capital Partners, and is headquartered in San Mateo, California.

To learn more about Coremetrics, visit http://www.coremetrics.com or call
866-493-2673.

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Jeff Ginsberg

Jeff Ginsberg

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