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
- Disappearance called 'sususpicious' 7:00 p.m.
- Depleted uranium OK'd for storage 6:51 p.m.
- Snow may fly with weekend warm-up 6:33 p.m.
- ATK to cut 800 jobs 6:11 p.m.
- Cops: Artist's son swipes paintings 5:57 p.m.
- Incentives to create new jobs 5:51 p.m.
- Teen to be tried as adult 5:45 p.m.
- Study: 5 steps to creativity 5:44 p.m.
- Former CEO is Entrepreneur of Year 5:40 p.m.
- Calendar of events for December 5:36 p.m.
- Nude bathers cited for lewdness
- Few details on missing W.V. mom
- Jazz fall apart late at L.A.
- Crash landing next to I-15
- Defense witness goes on offensive
- BCS = power conference monopoly
- Palin signs books, chats with fans
- I-15 expansion barreling south
- 5 officers lose their certification
- Y.'s Emery bruised, but rarely beaten
- Letters: Global warming a lie
254 - TCU to play Boise in Fiesta Bowl
206 - BYU football: Bronco weighs in on Hall
193 - Palin signs books, chats with fans
158 - Cougars going back to Vegas
150 - Utah/BYU rivalry can be more civil
149 - Andersen apologizes for Jordan hoax
142 - Max Hall wants to look ahead
123 - Nude bathers cited for lewdness
117 - Jazz fall apart late at L.A.
108
There was a time when free shipping was rare. This holiday season, you...
Love him or hate him, Utah Sen. Orrin Hatch knows how to get attention.
Aren't addictions wonderful? And so are women who just shamelessly throw...
Depleted uranium gets more radioactive over time, but I guess the Governor...
When people are paying double or triple for their electricity and having to...
enough said...
How telling that while most would recognize the stuffing of the ears as...
On ESPN radio today in LA, John Ireland said of the game last night; "The...
all of you who are arguing feel real big and powerful. You are all sounding...
So you think that liberalism is a sin and President Obama is sinning? Wow,...
Anon 9:42, You articulated the questions very nicely about what many of us...
THEY made the mess, THEY profited from their operations, THEY should...



You can be the first to comment on this story.