Cyber Monday Proves Fruitful For Amazon.com Inc. (NASDAQ:AMZN)
Over the last twenty odd years retailers have come to depend on the power packed shopping months which start around Thanksgiving and end with Christmas holidays and New Year for recording close to 40% of their annual sales. A more recent evolution in the binge shopping psyche of customers has been the “Cyber Monday” sales where in post the Thanksgiving weekend, customers logging into ecommerce websites to order for products at special discounted and mark down prices. Amazon.com, Inc. (NASDAQ:AMZN) which has grown into being the world’s premier online retailer had seen its online sales go up by 46% on Cyber Monday and by a equally impressive 35% during trading on last Thursday to Monday.
Online Retail On The Ascendancy
In a trend which is still to be thoroughly investigated and commented upon, online retailers like Amazon.com, Inc. (NASDAQ:AMZN), eBay Inc (NASDAQ:EBAY) and Groupon Inc (NASDAQ:GRPN) have recorded strong sales over the extended Thanksgiving weekend which commenced last Thursday and extended into this Monday. As per a report which was published by tech provider Adobe Systems Incorporated (NASDAQ:ADBE) the total sales online during just Cyber Monday was recorded at $2.29 billion which was 16% more than what was recorded last year for the same time period. Not to be outdone International Business Machines Corp. (NYSE:IBM) has come out with a report which has pegged the total online sales uptake during the Thanksgiving Week to a 21% this year.
Traditional Retailers Look On With Envy
Amazon.com, Inc. (NASDAQ:AMZN) and its online ilk would be looking on favourably to the fact that while their online business has shown double digit growth, their traditional in house retail players like Wal-Mart Stores Inc. (NYSE:WMT), Dollar General Corp. (NYSE:DG) and Target Corporation (NYSE:TGT) have recorded a collective 2.7% drop in sales over the Thanksgiving weekend as reported by The National Retail Federation.