10e20 Blog

I remember when I first experienced the power of the Internet. I was in middle school hanging out with a friend. We decided to use the computer in my father’s office and got online to chat. Of course that led to starting trouble within the chat room and getting kicked out, but the feeling of connecting (even if it was very juvenile and idiotic) was lasting.

Well both myself and the internet have evolved since then (thankfully). We are in the midst of Web 2.0. I mean, look at who Time’s person of the year in 2006 was- it was me, or was it you?

Now you can sell your handmade t-shirts to someone in California, post a video so millions can see it, raise money for a certain candidate or cause or even connect with a classmate that now lives in Boston.

When the seasons change I like to get new shoes (actually I like to get shoes at anytime but the season’s changing is always a good excuse)…

Up until recently when it came to shoes I’ve been an avid brick and mortar shopper, having to go into the actual store to try shoes on, I order everything else online but for some reason I need to try the shoes on in person before buying. But lately I am frustrated with that whole shopping experience, going from shop to shop when I can easily open several tabs at a time just seems to be a waste. Walking around a whole store where nothing is organized or really categorized doesn’t work for me anymore. I order my food online, my clothes, my makeup, my insurance and just about everything else - so why not my shoes?

This week’s question comes from Graywolf (cool name BTW) - he asks:

What do you think about sites such as Styledash.com? What are your initial impressions? Would you buy from it? What do you think of a site like this? What would it take for someone you didn’t know to influence your buying decisions online?

My first impression of Styledash.com was that I could read the same material in a magazine. From the gossip articles to the latest fashion styles, it all seemed too familiar. On the home page there was a little article about Lindsay Lohan being drunk and going into rehab once again. This article went on to talk about how she was opening a fashion bar in NYC, but all of it reminded me of something someone would read in “People.” The other articles had to do with other fashions from different countries and news about designers splitting or collaborating. Once I thought about this site more, I figured that this site would be good for people who don’t read magazines and who prefer to read everything online.

Allow me to share with you some exciting sales statistics for 2006.

According to comScore, online non-travel holiday spending between November and December went up 25% to $24.6 billion dollars for 2006, up from $19.6 billion a year ago.

What does this mean? There is increased consumer trust in online marketplaces, and as more and more consumers continue to value the convenience of online shopping, more and more consumers will buy. 2007 will likely see a greater increase too.

Here are some more interesting facts:

$457.4 billion - 2006 holiday sales, both online and offline
$435.6 billion - 2005 holiday sales, both online and offline
51.7 million - people who shopped online from work for holiday gifts in 2005 (see what I mean about convenience?)

Online merchants should know that while a lot of people are jumping for Black Friday sales, there’s also the recently popular trend of online shopping the following Monday, which was dubbed “Cyber Monday” after online retail sales following Thanksgiving jumped substantially. With a long holiday weekend for most shoppers, the mindset is still on holiday gift buying and online retailers should still consider the benefits of successful preparation for the big day.

According to data presented by comScore (via the Wall Street Journal), this past Monday’s online sales have jumped up 24% to $599 million. Interestingly enough, online sales went up 42% on Friday — but online sales only reached $434 million that day.

Hitwise also presented data that showed a 13.3% sales increase compared to Cyber Monday 2005.

Regardless of the “accurate” statistic, one thing is certain: early preparation for big shopping days will only help you (and your customers). Fortunately, the WSJ states:

Online retailers, take note. It’s time to begin preparing for November 24, 2007. Black Friday isn’t only for in-store purchases only — there’s just too many people to compete with.

Why face the long lines and pushing-and-shoving if you don’t have to?

This past Black Friday saw a record number of unique visitors, now up 42% on online retail sites. comScore, which presented these results on November 2006 spending, says:

With 42 percent growth versus the same day last year, it’s clear that many consumers opted for the convenience and sanity of shopping from home in order to avoid mayhem at the malls and to take advantage of the extremely attractive deals being offered online. This growth figure is especially encouraging for online retailers when taking into account that much of the country saw beautiful weather on Friday.