Cyber Monday Week Sales Gains Were ‘More Virtual Than Reality,’ Says NPD
Forecasts for big retail sales gains on Cyber Monday and the week that followed “turned out to be more virtual than reality,” said NPD Thursday in its weekly “holiday shopping bag” report. There was a “slight uptick” in overall U.S.…
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holiday spending compared with the Thanksgiving week declines but “not to the degree that many early reports indicated,” said NPD. Cumulative retail sales for the first five weeks of the holiday selling season were up 2 percent from a year earlier “across the key general merchandise categories” that NPD tracks at the point of sale, it said. Consumer tech products occupied three of the top five “performing categories” for Cyber Monday week, with home automation first, stereo headphones second and LCD TVs fourth, said NPD. “Leading segments are struggling to make up for aggressive promotions that counteract positive product movement in others,” said NPD. “The final weeks of this holiday season will be critical as delivery deadlines approach and consumers are driven back to the stores to complete their shopping.”