Cyber Monday Looks Bright
This long holiday shopping weekend is expected to out pace last year. And that includes online shopping. Scot Wingo likes to track what is called – Cyber Monday – how much money online shoppers spend during the holiday weekend. Wingo is C-E-O of Channel Advisor. The Morrisville-based company works with over three-thousand online retailers on how to be more efficient and make more money.
Wingo expects double digit online shopping growth:
"There’s a lot of discounting this year as there was last year, but consumers are spending more. So we’re seeing, one metric we track is the average order value. In October that was up about 5 percent year-over-year. And we’re seeing it trend up nicely in November."
Wingo says Cyber Monday numbers might be as much as 18 to 20-percent higher than online retail sales this time last year.