In November, Fanscape’s Industry newsletter highlighted the upcoming holiday shopping season. With just a few days left until Christmas, and with Black Friday and Cyber Monday behind us, we decided to take another look at how social media and the internet has helped retailers across the country boost their sales and break some records.
Online Shopping on the Rise
First, sales are up. Internet sales surged this year, and online retailers saw a 15.9% increase in sales from Black Friday 2009 to Black Friday 2010. The average price of online orders jumped 12% from 2009, and the first 26 days of November saw an increase of up to 13%. (Read more)
Foursquare Check-In’s and Black Friday Sales
While Foursqure users only represent a small portion of those who visited stores on Black Friday, many retailers used the service to offer deals for users who checked-in on their mobile phones. In a recent AdAge article, they revealed the most-checked-in retail stores on Foursqaure, citing that despite large promotional campaigns by companies like Sports Authority, the retailers that really shined when it came to check-ins were companies such as Walmart, Best Buy, and Target with the latter having almost one quarter of all Black Friday check-ins.
Cyber Monday Breaks a Record
Online sales for Cyber Monday reached a record high and surpassed $1 billion for the first time in history, according to ComScore. It is estimated that online shoppers spent roughly 16% more than last year on the same day. With more money invested into online promotions, and more advertising spent on social platforms, Cyber Monday saw 4% (9 million) more online shoppers spending roughly 10% more then last year based on (data compiled by Mashable).