December 16, 2011
By the ZippyCart Content Team
Ecommerce solution eBay coined the term “Green Monday” in 2007 to describe the second Monday in December, which for the past six years has marked the most (or second-most in 2005 and 2007) profitable shopping day of the year for online retailers. “Green Monday” has been exceptionally profitable for the past several years, but this holiday shopping season has blown previous season’s out of the water and merits the more appropriate name of “Manic Mondays.”
According to a study released by ComScore, the past 3 Mondays have all seen ecommerce profits exceeding $1 billion. Cyber Monday saw record breaking sales amounting to $1.25 billion, which, according to ComScore’s report, was followed by $1.17 billion in sales on Monday December 5, and sales of $1.13 billion this past Monday, December 12. This year’s string of “Manic Monday” sales mark the three most profitable online shopping days of 2011 and the continuing holiday success for ecommerce solutions.
In total, holiday shopping (from Nov. 1 to Dec. 12) has so far reached nearly $25 billion, up 15 percent from the same period last year. ComScore also reported a record of $6.1 billion spent in just last week ending December 11.
The most profitable product category this holiday season has been digital content and subscriptions, with a growth rate double that of the online sector as a whole. Jewelry and watches is the second-fastest growing category and consumer electronics led by flat screen TV’s and tablets rounds out the third.
Holiday ecommerce in the U.S. is expected to remain steady and increase 15 percent this year compared to the same time in 2010. The gains in online commerce significantly shadows the 2 to 3 percent gains predicted for overall retail sales this holiday season.
ComScore chairman Gian Fulgoni commented on this year’s holiday spending:
“These highlights represent another very positive sign for the holiday shopping season, as the week following ‘Cyber Week’ often experiences relative softness in spending momentum due to retailers pulling back on their promotional activity. As we enter what will be the heaviest week of the season for online retailers – beginning with ‘Green Monday’ on December 12 – all signs are now pointing to a strong finish to the season.”
Ecommerce accounts for less 5 percent of consumer spending, leaving ecommerce solutions like eBay and Amazon to vie for shopper’s business by offering discounts and daily promotions. eBay opened up several pop-up stores for shoppers who want to check out products in-person before making purchase and shoppers have seen more free shipping offers than ever from Amazon this year.
Andrea is originally from Vancouver (not Canada), Washington (not D.C.) but currently resides in Seattle, WA as she finishes up her last two quarters at Seattle Pacific University. Majoring in communications and minoring in business administration, Andrea has big dreams of a career in public relations. When not writing for Zippycart or studying for class (hah!) she enjoys the chaos of living in a house with 5 other girls. Follow her adventures on Twitter: @andrea_ruge
