Watch Your Wallet, Online Shoppers. Limited Time Sales Not Always Best Deals

November 30, 2010 § Leave a comment

Cyber Monday is finally over. My eMarketer newsletter came amid a pile of sales alerts I didn’t sign up for.  Jeffry Grau from eMarketer said in a blog that cyber monday is losing its punch, for online shoppers started hitting place-the-order button even before “the pie is served”.
Facts:
On Thanksgiving Day, online sales increased 33% and average order value rose to $182.74 from $159.81 a year ago, according to Coremetrics.
On Black Friday, digital success ensued. Size of an average order went up from $170.19 to $ 190.80.
What’s worth noting is:
  • “Online retailers are making greater use of limited-time offers. This Thanksgiving holiday, online retailers dangled limited-time promotions in front of shoppers and adjusted prices on popular products to account for demand, supply and competitors’ prices, reminiscent of how airlines adjust prices for seats.”

There is a trend of growing limited-time offers, urging consumers to make quick and often ill-thought-out shopping decisions with a ticking clock. Even though online stores like bloomingdales.com would offer new deals when the previous end, each slightly different and not necessarily better than the other, the limited-time promotion still has a huge impact on consumer behavior, especially since threatening sold-out signs are broadly scattered. (I always wonder why is the product displayed at all if sold out?)

Check out my newsletter collection with time-warning signs:

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