Monday, November 28, 2005

Black Friday and Cyber Monday

I don't recall ever hearing the phrase "Black Friday" so much as I've heard it this year. It refers to the day after Thanksgiving when so many retailers finally go into the "black" for the year. And this is the first year I've heard the phrase "Cyber Monday", referring to the quantity of online shopping done on the Monday following Thanksgiving. But it's apparently significant.
The Monday after Thanksgiving, nicknamed "Cyber Monday," is the unofficial kickoff of the Internet holiday shopping period. It has become a huge online shopping day in part because after a long Thanksgiving weekend of comparing prices and exchanging gift ideas, many shoppers return to the high-speed Internet connections in their offices ready to buy electronically.

Online Christmas sales already had jumped over the four-day Thanksgiving weekend. Americans spent $305 million online Friday, up 22% from the same day a year ago, according to research firm comScore Networks. Research firm Nielsen/NetRatings said its Holiday eShopping Index, which tracks traffic to 100 Web sites, jumped 29% Friday from a year earlier.
Both traditional and electronic retailing is off to a rapid start this holiday season. Will it hold up?

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