Official figures shared by industry experts have revealed that online retail stores are all ready to set a new sales and earnings record for Cyber Monday, with Amazon. com and Walmart. com, both arch rivals, racing to become the prime beneficiaries.
On Monday, in lieu of high rise in sales, Amazon's shares surged to hit an all-time high. The online shopping portal is now expecting even better holiday season sales, and has already reported record breaking sales of its Kindle e-reader for the month of November.
Wal-Mart's online arms, although smaller in size, has managed to pose a tough competition to Amazon. The unit offered unbeatable, lowest prices on selected books, toys and electronics, among other products, for Cyber Monday, and these discounts will run well into the holiday shopping season.
"From a growth perspective, Walmart could potentially be the winner, but from a dollars perspective we still think Amazon will trump it", said Jefferies analyst Youssef Squali. It has been estimated that Amazon will report nearly 30% growth in sales for the holiday season as well as the fourth quarter. Walmart, on the other hand, does not break out sales for Walmart. com, but experts are estimating it to be some $2 Billion-$3 billion worth of business.
Experts are of the opinion that this year, online retailers will be able to reap much more benefits than traditional retail store owners, as consumers are looking for bargain deals and preferring to not go out because of H1N1 fear.