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Black Friday was good in the US as consumers increased spending from last year and now CYBER MONDAY numbers are in and they show a 15% increase to break $1.1 billion dollars in online purchases yesterday….looks like consumer confidence is back in the US….assume that’s important in the economy there and in Canada…
At the risk of sounding like Cliff Claven, Cyber Monday is only a year old in Canada but the term was coined 5 years ago to describe the Monday after Thanksgiving, when US consumers go back to work and shop for gifts on thier computers. E-tailors are launching encore Tuesday to extend the deals and I think tomnorrow will be Wake up call Wednesday. A couple on take aways from all this are 1. with the Canadian dollar @parity with the US, crossborder shopping is rising. 2. Online sales rose 15% but that is skewed towards electronics or tech toys. Although consumer confidence is rising it appears to be on the smaller ticket items. In addition housing number were bad in the US and growth number came in lower than expected in Canada so slow growth.
At the risk of sounding like Cliff Claven, Cyber Monday is only a year old in Canada but the term was coined 5 years ago to describe the Monday after Thanksgiving, when US consumers go back to work and shop for gifts on thier computers. E-tailors are launching encore Tuesday to extend the deals and I think tomnorrow will be Wake up call Wednesday. A couple on take aways from all this are 1. with the Canadian dollar @parity with the US, crossborder shopping is rising. 2. Online sales rose 15% but that is skewed towards electronics or tech toys. Although consumer confidence is rising it appears to be on the smaller ticket items. In addition housing number were bad in the US and growth number came in lower than expected in Canada so slow growth.
posted by David Allard at
8:18 AM
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