Online Holiday Sales Only Down 2%
Online spending between Nov. 1 and Dec. 24 2008 dropped 2% compared with 2007 according to the Wall Street Journal. Online retailers still fared much better than their brick and mortar counter-parts who are predicting a decrease of between 5-8% from 2007. The numbers point to a mixed-bag for online retailers. Amazon, Apple, and Wal-Mart all showed increases, with Amazon claiming the largest number of orders ever. eBay, and Best Buy both showed substantial decreases, 16% and 17% respectively. A key factor for Wal-Mart, Amazon, and Apple was their ability to play to their strengths. Amazon relied on its large variety of products, Wal-Mart on its value-oriented brand, and Apple its chic, innovative electronics. The common thread for all three was deep discounts to get shoppers spending, and targeted email campaigns to entice return customers. What still isn't known is how well smaller online retailers fared. The sales figures point to a consolidation online, with a few successful retailers, and many losers. How were your holiday sales? Were you able to buck the trend? If so, what was the key to your success? If sales were not as high as you hoped, what are you going to do differently to give your business a boost? Leave a comment below and share your experience.