NEW YORK and SAN JOSE, Calif. (12/4/13)--Online retail is diminishing crowds at malls and stores during the holiday season, according to two reports released Tuesday.
Black Friday weekend sales were higher than they were last year, but lower than they were the week before, according to an index compiled by the International Council of Shopping Centers and Goldman Sachs. The seasonally adjusted measure fell by 2.8% on the week ending Nov. 30, but rose by 2.5% on an annual basis (The Wall Street Journal Dec. 3).
But "Cyber Monday" sales set new records. Digital transactions on Monday clocked in at $2.29 billion--a 16% annual increase, according to the New Adobe Digital Index. IBM data gauged online sales Monday as being up by 19% from last year (Economy.com Dec. 3).
Moody's analysts said that this trends is good for consumers but "physical stores" will suffer as a result.
Driving online sales were transactions conducted from mobile devices, which increased by 80% on an annual basis to $419 million--18.3% of all Cyber Monday sales.
Social media referrals led to $148 million in sales between Thanksgiving and Cyber Monday--a 2% share that equaled last year's proportions. But Twitter's share of sales referrals ballooned to 9%, a 24% increase, while Pinterest saw its referral traffic grow by 17%. Facebook accounted for almost two-thirds of referrals--its share increased by 12% to 64% (CSA.com Dec. 3).
Moody's analysts said that inclement weather in the Northeast and South did not deter sales by much. They also pointed out that gas prices appeared to be little disincentive, with prices at the pump falling last week.
Since August, there has been a 0.06% weekly decline in sales at retail chain stores, according to the ICSC-Goldman survey, apart from the 2.6% weekly gain for the week ending Nov. 23.