US shoppers are still spending….and spending a lot. Especially online. After a record-smashing Cyber Monday of $1.25 Billion, total online sales for the week topped out at nearly $6 Billion according to ComScore.
Online sales are up 15% to $18.7 Billion in November and first two days of December compared with the same period one year ago.
Retailers are continuing come up with new ways to promote there goods and services. But what’s seem to working the most?
Free shipping is the biggest draw – which was applied to 63% of sales up 50% from last year. These figures exclude travel, auctions and large corporate purchases.
So what does all this mean?
With all the doom and gloom of the media and artificial injections of cash flow into the economy from the Fed it’s hard to objectively measure a true economic position. We are great at putting labels on things and give them definitions to make us feel more certain what’s going on – when really we have no clue.
Whether we are in a global recession, or whatever you want to call it, or not is irrelevant.
What does matter, especially in business, is understanding behavioural patterns of the clients or customers you have. The bright news about these statistics is that as long as your clients have a pulse, they will find a way to get the things they want. Which means if you can be the conduit to what they want, no matter what dismal label is attached to the economy – it won’t apply to you and your business.