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.
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.
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%).
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.
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.
In some locations, people pushed, shoved, and fought their way through the shopping aisles. In other locations, traffic was normal.All in all, I suspect people once again bought more junk they do not need and cannot afford.Here is a sampling of the news.Walmart Processes 10 Million Transactions in 4 Hours
TORONTO • Retailers are woefully under-prepared when it comes to transforming their Web divisions into a truly profitable part of their businesses, according to a new survey, but bricks-and-mortar companies feel the need to forge ahead online regardless lest they lose ground to Amazon.
A new study from retail consultancy HRC Advisory this week finds that retailers are grappling with some major hurdles when it comes to integrating e-commerce.
Clothing is fast becoming one of the hottest growth categories online, and a recent report suggests that will mean big sales for Amazon.com Inc., enough to unseat department store Macy’s Inc. as the top U.S. apparel retailer by 2017.
The prediction comes just weeks after the web retailing giant started selling clothing and footwear online in Canada — two of the few categories the Canadian site had not yet imported from its U.S. site.
Mobile is no longer the big, existential threat to bricks-and-mortar retailers it was once seen as. In fact, mobile is actually driving a greater share of online visitors to retailers like Walmart and Target, than it is to Amazon.