Holiday shopping up going into 'Cyber Monday'
Sacramento Business Journal - by Silicon Valley/San Jose Business Journal
Deep discounts aren't expected to result in big gains in online sales on so-called "Cyber Monday" despite reports of better-than-expected shopping over Thanksgiving weekend.
Internet research firm ComScore said on Sunday that online spending was up only 2 percent on Thanksgiving Day and Friday combined, compared with a year ago.
PayPal, the online payment service owned by San Jose-based eBay Inc. (Nasdaq: EBAY), said Black Friday transactions were up nearly 34 percent compared with 2007.
Another research firm, ShopperTrak RCT tracks total retail sales at more than 50,000 stores, said sales were up 3 percent to $10.6 billion on Black Friday compared to a year ago.
Going into "Cyber Monday," the unofficial kickoff to the online shopping season, Apple Inc.'s (Nasdaq: AAPL) products appeared to be doing well. Apple has a 1,000-employee plant in Elk Grove.
The Cupertino-based company's products held nine of the top 25 spots on Amazon.com's list of the best-selling electronics, with the 8GB iPod Touch at No. 4 and the 4GB third-generation silver iPod nano at No. 10. The best-sellers ahead of the iTouch on the list were Amazon's (Nasdaq: AMZN) wireless Kindle reading device at No. 1, and two GPS devices from Garmin Ltd. at No. 2 and No. 3.
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