ComScore has come out with its data on Cyber-Monday, the weird appellation given to the first day after the Thanksgiving weekend. The day went better than expected. Revenue from online ecommerce hit $608 million, up 26% from a year ago. The largest one-day total ever. For the first 27 days of November, online ecommerce revenue was up 24% to $9.84 billion.
Putting these number next to the same-store sales drop-off at Wal-Mart. Same-store sales across the industry rose 2.5% in November according to the International Counsil Of Shopping Centers. The trade group said this was the slowest month since March.
Althought there is a dearth of good data on what online shopping takes from the so-called "bricks and mortar" world, it is hard to imagine that there is not some element of borrowing from Peter to pay Paul.
Online sales may be doing fine. But, if off-line sales are not, a false sense of how well the retail sector is going might tempt investors to be overly confident. That could be a mistake.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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