National Retail Federation's Scott Silverman on Cyber Monday Trends
And I think trying to get into the head of the consumer and understand how important Cyber Monday is to them, what their expectations are ... If retailers were successful in meeting expectations, what did they do that allowed them to meet expectations because that's not an easy thing to do. [They should] understand that, and do more of it.
And also, margin is always important. So retailers should study what would happen if they didn't have that sale, if they didn't offer free shipping. Would they be more profitable? I'd venture to guess that they would see a lower volume in sales, but they may be able to be more profitable at the end of the day. Of course, then also if there's lower volume, that affects their inventory—so I think there's a lot of things to study. And that's not just for Cyber Monday. I think that's for any holiday that creates an opportunity for promotions and discounts.
TM: And what about Shop.org's Cyber Monday Web site, which promotes offers from major retailers and raises funds for scholarships?
SS: It's been growing vigorously. We had a million and a half visitors on Cyber Monday last year, and we had 2.4 million unique visitors [this year]. We expect to exceed the $300,000 goal for scholarship funds we set for 2008. All of [Shop.org's] proceeds go to the Ray M. Greenly Scholarship Fund, which is used to encourage undergraduates to pursue careers in e-commerce.