Online Jewelry Sales Raise 18% on Black Friday
According to IBM Coremetrics...Jewelry led a surge of internet shopping on Black Friday as jewelers estimated a 17.6 percent increase in online sales from last year, according to web analytics company IBM Coremetrics. “These affluent shoppers appear very willing to open their wallets,” the company noted.
“On Black Friday, consumers came, they clicked and they shopped their way across the Internet, and this time, they weren’t just looking for bargains,” said John Squire, chief strategy officer, IBM Coremetrics. “Consequently, we’re watching online retail and increasingly social media and mobile, become the growth engines for retailers everywhere as consumers embrace online shopping not only for its ease and convenience, but as a primary means of researching goods and services.”
Shopping through social media sites is gaining momentum but remains small accounting for just 1 percent of the total purchases made, while 5.6 percent of people logged onto a retailer’s site using their mobile phones. Coremetrics noted that consumers viewed 18 percent fewer products on sites than they did last year, indicating that they are shopping with a specific item in mind.
Amongst the retail sites, department stores were the most popular resource for online bargain hunting, while health and beauty retail sites and in-store sites in the electronics and appliance sector are also strong growth areas.
ComScore is expected to publish its Black Friday estimates on Monday. The company reported that online sales in the first three weeks of November rose 13 percent to $9.01 billion. ComScore forecasted that online spending through November and December will increase 11 percent from last year.
Separately, ShopperTrak reported that in-store retail sales rose a slight 0.3 percent to $10.69 billion on Black Friday. The National Retail Federation estimated that combined store and online sales from Thanksgiving (Thursday) through sunday rose 9 percent to $45 billion.
By: Avi Krawitz
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