Photo: Keith Williamson
Today, retailers are trumpeting the success of Cyber Monday. Sales for the day were up 27 per cent, as more shoppers logged on to capitalise on deals. But a harder look at the news shows it’s not all great.
While overall sales were up, the average ticket price dropped by quite a bit, notes Brian Sozzi, chief equities analyst at NBG Productions.
The average online order size on Cyber Monday was $130.30 as of 3 p.m., down from almost $200 last year, according to IBM.
“Watch the average transaction value, it has now been weak at both stores and online,” Sozzi said. “This tells us that retailers have done a fine job at shifting the pool of holiday buyers to earlier in the season, but has not necessarily created demand outside of the carefully scrutinized shopping list.”
While lots of people are shopping online, the consumers are still wary about sticking to their budgets. And retailers aren’t offering anything compelling enough for shoppers to stray from their lists.
This could mean that despite record volumes of shoppers this season, the big picture isn’t all that great.
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