eBay Companies Report Strong Black Friday
Recent eCommerce Activity Indicates Solid Online Season Despite Weakening Economy
SAN JOSE, Calif. -- Nov. 24, 2007 -- Black Friday sparked the holiday shopping frenzy as consumers clicked online early and often. eBay Inc. companies, including Shopping.com and PayPal, reported key online holiday shopping trends for Friday, November 23, 2007, including traffic increases, popular categories and hot gifts.
"Early signs from a very busy Black Friday show that many shoppers are grabbing their mouse instead of their car keys this holiday season," said Jim Griffith, eBay Inc. dean of education. "Online shopping provides value and convenience, which increasingly budget-conscious consumers are craving. By visiting eBay, Shopping.com and PayPal this holiday, consumers can shop and win something for everyone on their list, safely and easily."
Shoppers Opening Wallets Online
In this year's tighter economy, shoppers are maximizing their holiday budgets by heading online to find the best deals on gifts this year and otherwise sold out merchandise. Shopping.com's traffic to merchants increased 61 percent over last year's Black Friday, November 24, 2006, exceeding industry expectations. According to Forrester Research, online payments are predicted to top $33 billion this season, a 21 percent increase over holiday 2006, signaling a strong season for eCommerce.
Though Black Friday is an important online shopping day, data shows that shoppers are browsing and researching more on Friday, but buying more on the Monday after Thanksgiving, or Cyber Monday. Last holiday on Shopping.com, Cyber Monday traffic outpaced Black Friday by 19 percent. Thanksgiving Day has also become an increasingly busier online shopping day. PayPal found from 2003 to 2006 there was a 70 percent increase in total payment volume (TPV) in Thanksgiving Day online activity.
Additionally, based on the previous five years of PayPal's online shopping research, data shows that Mondays are the busiest day of the week for online shopping and the second Monday in December is solidifying its place as the actual busiest online shopping day of the season. In 2006, online shopping activity on PayPal was 96 percent higher on the second Monday in December than on Thanksgiving Day.
eTail Continues to Mirror Retail Patterns
Consumer spending habits this Black Friday showed that soft goods categories like Gifts and Flowers, Clothing and Accessories, and Health and Beauty continue to see the most growth online. On Shopping.com, traffic to merchants in the Gifts and Flowers and Clothing and Accessories categories throughout the Thanksgiving holiday grew by 57 and 52 percent respectively year-over-year.
Hottest Gifts
Below are some of this season's most popular gifts based on shopping activity on eBay and Shopping.com.
Toys
- Webkinz Pet Toys - $12 - $20, Shopping.com
- Kidcraft Fashion Dollhouse - $136 - $180, Shopping.com
- Dora the Explorer ABC Game - $5 - $15, eBay
The most searched for Webkinz pet on eBay is the Webkinz Seal. On Black Friday alone, 138 sold on eBay for an average selling price of $14.22.
For the Home
- George Foreman Next Grilleration Grill - $30 - $120, eBay
- Cuisinart Classic 7 Cup Food Processor - $100 - $149, Shopping.com
- Cuisinart BrewCentral 12-Cup Coffee Maker - $48 - $90, Shopping.com
Based on searches and clicks, the Cuisinart BrewCentral Coffee Maker is the most popular coffee maker on Shopping.com and is available from 27 merchants.
Consumer Electronics
- Nintendo Wii video game console - $100 - $425, eBay
- Microsoft Zune 80 GB mp3 player - $210 - $420, eBay
- Garmin StreetPilot c550 portable GPS device - $300 - $500, Shopping.com
The Nintendo Wii sold out in several retail locations on Black Friday, while 358 sold on eBay for an average selling price of $411.76.
Out of stock in stores only hours after its release on November 13, 2007, on Black Friday, 27 of the Zune 80 GB mp3 players sold on eBay for an average selling price of $326.57.
About eBay Inc.
Founded in 1995, eBay Inc. connects hundreds of millions of people around the world every day, empowering them to explore new opportunities and innovate together. eBay Inc. does this by providing the Internet platforms of choice for global commerce, payments and communications. Since its inception, eBay Inc. has expanded to include some of the strongest brands in the world, including eBay, PayPal, Skype, Shopping.com, and others. eBay Inc. is headquartered in San Jose, California.
About PayPal
PayPal is the safer, easier way to pay and get paid online. The service allows anyone to pay in any way they prefer, including through credit cards, bank accounts or account balances, without sharing financial information. With more than 164 million accounts in 190 markets and 17 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company. More information about the company can be found at http://www.paypal.com.
About Shopping.com
Shopping.com, an eBay company, pioneered online comparison shopping and today is one of the fastest growing shopping destinations on the Internet with items from thousands of trusted stores from across the Web. With a singular focus on shopping, Shopping.com offers shoppers easy-to-use search tools, engaging content, time-saving navigation, along with millions of product and merchant reviews from the Epinions community, all in one place. The Shopping.com Network powers the shopping experience for hundreds of websites. For more information, please visit http://www.shopping.com.
