Business/E-Business
Commentary
11/29/2010
09:30 AM
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Black Friday Online Sales Grow By Double Digits

Drive to the mall or shop from home? A growing number of buyers opted for the latter on Black Friday, underscoring the need for retailers to develop a strong online presence.

Drive to the mall or shop from home? A growing number of buyers opted for the latter on Black Friday, underscoring the need for retailers to develop a strong online presence.Market research firm Coremetrics determined that more consumers (up 15.9% from 2009) purchased goods online on Black Friday than in 2009 and their average spending increased 12.1%, from $170.19 in 2009 to $190.80 on Friday. The company found that consumers have become more savvy: they spend 18% less time online, a change that suggests that they pinpoint specific brands and items before hitting the Search button.

The survey also identified a few emerging trends. Mobile shopping use (5.6%) remains paltry although this area did grow 26.7% from 2009. Social networking sites (less than 1%) also are not widely used as of now but also seem to be gaining momentum.

For small and medium retailers, the message is clear. To attract customers, they need to offer them online shopping options. In addition to remain competitive in the future, these companies will need to upgrade their sites, so they support emerging features, such as support for mobile devices and connections to social networking sites.

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