LOS ANGELES (Reuters) - Shares of eBay Inc , Amazon.com Inc and other online retailers fell on "Cyber Monday," as analysts worried that deep discounts from traditional retailers may have stolen the thunder from their online-only rivals, known for lower pricing.
Reuters - Shares of eBay Inc , Amazon.com Inc and other online retailers fell on "Cyber Monday," as analysts worried that deep discounts from traditional retailers may have stolen the thunder from their online-only rivals, known for lower pricing.
Cyber Monday sales surged, sending online shopping toward a single-day record as Amazon.com Inc. and EBay Inc. siphoned consumers from brick-and-mortar stores.
Online sales rose 19% from 2012 as of 9 p.m. in New York Monday, International Business Machines Corp. said in an e-mailed statement. Retailers catering to smartphone and tablet users benefited the most, with mobile traffic accounting for 30% of the total site visits, an increase of more than 58% from last year, IBM said.
Retailers from booksellers to grocery stores have quaked in fear at the prospect of losing market share to Amazon.com Inc., and now the Seattle-based Internet behemoth has set its sights on the web category dominated by Etsy.com, a marketplace for artisanal and handmade goods.
The online giant on Thursday launched a “Handmade at Amazon” category on its U.S. website, offering arts, crafts, home décor and jewelry made by artisans in more than 60 countries.
After losing sales impetus over the last few years to online rivals over Thanksgiving weekend, many brick-and-mortar retailers countered by going more aggressive on online pricing and promotions. The abrupt promotions for the web offerings intensified competition for Amazon.com Inc. (NASDAQ:AMZN), which strived to maintain its footing.
The websites of Canadian bricks-and-mortar retailers have not made much of a dent in Amazon Canada’s share of consumer visits, according to a new BMO report. But an absence of relevant product overlap between traditional retailers and the Seattle web giant, and a lacklustre response to Amazon’s bonanza Prime Day sale this summer, suggests Canadian retailers’ revenue is not suffering for it — not yet, at least.
NEW YORK (AP) — Shoppers spent more than $3 billion online this "Cyber Monday," making it the biggest online shopping day ever.Research firm comScore said shopping by phone, laptop or tablet jumped 21 percent to $3.11 billion Monday.The 10-year-old shopping holiday has lost some of its luster as retailers push sales forward on the calendar to Thanksgiving and Black Friday. Yet "Cyber Monday" has become engrained in the minds of enough shoppers and it endures as the top online spending day of the year.
The last thing shoppers need is another name for their holiday binge; and yet here it is. First there was Black Friday. Then there was Cyber Monday. Now there’s Cyber Friday as the lines blur between online and traditional shopping in a weekend of frenzied consumption.
Amazon.com, Inc. (AMZN), the e-commerce giant, has certainly played a key role in revolutionizing today’s retail world. The impact has been so powerful that a whole new term, ‘Amazon Effect’ has been coined to describe the influence of the online giant on retailers’ sales.
Amazon.ca could crush other online retailers in this country even as internet shopping in Canada continues to lag other markets, according to a new industry report.
The report from BMO Capital Markets estimates the Seattle-based online shopping giant captures up to 7% of Canada’s $21.6-billion in e-commerce sales, a vastly bigger market share than other retailers who sell online, and more than four times larger than the next-in-line players, Costco.ca (1.6%) and Walmart.ca (1.5%).
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