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We've been wowed by the record breaking Black Friday and Cyber Monday spending data, but it looks like consumers are continuing to spend online for holiday shopping. comScore says that retail e-commerce spending for the first 30 days of the November-December 2012 holiday season amounts to $20.4 billion, which is a 15 percent increase versus the corresponding days last year.
The most recent week, which included Cyber Monday, saw three individual days surpass $1 billion in spending, led by Cyber Monday, which became the heaviest online spending day on record at $1.46 billion.
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In order to survive and grow, a retailer’s rate of change has to accelerate faster than the rate of consumer change.
For the last 60 years, retailers have collectively trained and motivated consumers—through advertising and marketing across every demographic—to be hyper-sensitive to price. J.C. Penney, for example, recently learned that you can’t take away coupon promotions, discounts and savings from consumers and expect to grow profits.
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