E-tailers said consumers opened their wallets on Cyber Monday.
According to IBM, Cyber Monday sales increased almost 20 percent over last year, and online sales rose 31 percent from Black Friday this year. Thanks in part to promotions and sales, Monday became the biggest shopping day of the year so far.
Shoebuy.com CEO and President Scott Savitz said his firm’s site fared well on Monday. “We’ve had an amazing start for the holiday season,” he said. “People talk about this becoming a major retail holiday, and we’re seeing this become a reality.”
Karmaloop.com saw a more than 100 percent sales increase from last year, said owner Greg Selkoe. “We’re anticipating this to be our 11th holiday season in a row of strong double-digit growth, so [it’s] turning out to be a terrific holiday season,” he said, adding that footwear and T-shirts have been among the biggest draws. “It goes to show that people aren’t just shopping on their way to work,” he said. “More people are choosing to shop online.”
Customer appreciation sales and promotions paid off for Robert Yeganeh, president of Lovemyshoes.com. He told Footwear News his website saw a 40 percent jump in sales from last year after offering a 30 percent discount online.
Meanwhile, Shoebuy.com relied on promotions such as 20 percent off and free shipping to boost sales, and Karmaloop.com offered 25 percent off any item, free shipping and a $40 gift code with purchases over $250.