More Shoppers on Cyber Monday, But They're Spending Less, Says NPD
Seven percent more consumers shopped online this year looking for Cyber Monday deals than last year, but they spent an average $89 less than on Cyber Monday 2010, NPD said in its “Black Friday and Cyber Monday 2011” report. “Prices were lower and the natural maturation of electronics plays a huge role in this,” said Marshal Cohen, chief NPD industry analyst. He noted that each year “the same or similar electronic items tend to get lower retail prices.” Due to lower prices and attractive discounts, consumers spent Monday “gobbling up deals just like they did in stores during the Black Friday weekend,” but those surveyed spent $187.83 on average compared to last year’s $276.71, NPD said.
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Of the 3,300 U.S. consumers surveyed by NPD, 28 percent shopped on Cyber Monday but only 16 percent made a purchase, up from 12 percent last year, according to the study that was released late Tuesday. Brick-and-mortar retailers got a Cyber Monday bounce, according to NPD. It said 20 percent of consumers surveyed reported shopping in a store Monday versus 14 percent last year.
The electronics category posted the highest growth for Cyber Monday at more than 10 percent above last year’s figures, NPD said. Apparel was the number one category, although the percentage of consumers who reported making an apparel purchase on Cyber Monday declined, it said. Cohen said the lag in apparel wasn’t unusual since consumers typically don’t get serious about gifting until later in the holiday season.
They are getting more serious about self-gifting, NPD said. Mirroring Black Friday, the number of consumers buying for themselves on Cyber Monday trended up, with 39 percent of consumers shopping for non-gifts and for themselves, NPD said. “Consumers remain focused on getting the great deals and using online and Cyber Monday to fill that pent-up demand and frugal fatigue,” said Cohen. People have been saving this year “and not shopping for months waiting for these deals,” he said, “and they scored.”
The top reason 29 percent of consumers cyber-shopped on Monday was to comparison shop, NPD said. Next, curiosity drove 27 percent to their keyboards and the third incentive for Cyber Monday shopping was advertised sales, Cohen said. Cybershopping took time from the social networking pages, he said. “Almost as many people as told us they went online and purchased holiday gifts also said they visited a social networking site.”