From Deseret News archives:
Sales soar for Overstock.com
Other cyber firms also report increased tallies
Chief Executive Officer Patrick Byrne said the Salt Lake-based online closeout retailer had experienced wave after wave of shoppers looking for an alternative to in-store shopping from Friday through so-called "Cyber Monday."
"You've got to distinguish between the tide coming in and a tsunami hitting," he said Monday. "The tide coming in last year began around Nov. 5 and saw a big pickup. This year, the tide didn't really start coming in until around Nov. 15.
"On the other hand, the tsunami has hit. Really, the first breaker hit us Friday, and an even bigger breaker hit us today. The breakers are bigger than last year. The tide was a little bit lower and slower to arrive than last year, but when the tsunami has come, it's bigger than last year."
Byrne declined to provide many statistics but indicated that sales were up a double-digit percentage the past few days, compared to the same period last year. "We had a soft third quarter where we actually shrunk, so being up a double-digit percentage is nice," he said.
And Monday's sales, he said, were three times higher than any sales during any Monday in October.
Cyber Monday, coined by the National Retail Federation's shop.org, has a reputation for being a big day for e-tailers like Overstock.com, but it usually is not the biggest. Overstock.com's largest sales day last year was Dec. 12, when sales were in the $7 million to $8 million range.
Byrne is expecting a repeat this year, likely between Dec. 10 and Dec. 14.
"Somewhere in there, there will be a day even bigger, more like 40 to 50 percent bigger (than Monday)," he said. "Cyber Monday, while it's the first really big wave, it's not the biggest. There will be four or five more big waves like this."
Internet research firm comScore Networks Inc. expects either Dec. 11 or Dec. 12 to be the biggest day for overall online sales, with Cyber Monday either the ninth- or 10th-busiest online shopping day. Last year, the first Monday after Thanksgiving was the ninth-busiest day.
Comments
- Soccer MVPs know how to win 1:56 a.m.
- Alta's Ohai is Ms. Soccer 2009 1:56 a.m.
- High school soccer: Past MVPs 1:37 a.m.
- Senators want food tax restored 1:27 a.m.
- Utah women lag in higher education 1:16 a.m.
- Hatch empathizes with Muslims 1:14 a.m.
- Matheson gets no thanks from GOP 1:13 a.m.
- Mitchell seeks to block witnesses 1:12 a.m.
- Party insiders may take on Bennett 1:11 a.m.
- Input sought on nondiscrimination 1:11 a.m.
- TCU showdown has big implications
- Seniors helped BYU regroup
- Lambert surprisingly tops news
- Hope for single moms
- Bystanders framed for child porn
- Korver and Miles to be evaluated
- Soccer MVPs know how to win
- Utah Jazz Extra: Whose hot/not
- Matheson gets no thanks from GOP
- Newhouse Hotel, an explosive end
- House passes health care bill
228 - TCU showdown has big implications
183 - Lobo suspended
182 - Cougars crush hapless Cowboys
154 - Utah Jazz fall apart against Kings
131 - TCU 4th in AP poll; U. 16th, Y. 22nd
118 - Thousands protest health bill
114 - RSL rallies to advance
103 - No 'backlash' for pioneers, gays analogy
97 - Utes pound winless Lobos
89
Sounds like a good option if you can't or won't switch to AT&T for the...
I worked with and around Bill Sederburg for 5 years while he was at...
hand. He needs to work on his moves to the basket and rebounding. Lateral...
play Fez or Koufos tonight. He went with a smaller line up and Boozer, Okur...
I've met Bennett before and he is a nice man. He also knows the Constitution...
That's never been a secret. Everyone will pay for it except those that don't...
I agree with NonMormon. I am active LDS, and I enjoy Ash's articles, and I...
I kept saying don't resign Milsap, especially after Portland offered that...
BYU is the slowest team that has ever been in the top 25. Utah will put up a...
i think u have the cowboys ranked too low! at least an A- LOL nice work!



You can be the first to comment on this story.