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Sustaining the changing dynamics of eCommerce

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Retail events like Black Friday, Cyber Monday have a high impact on the over all sales when compared to the rest of the year. All ecommerce players have realized this and plan for various sales events during this period. Observing the customer craze and trend, retailers are not hesitating to keep their stores open on thanks giving too and are coming up with more creative ideas to extend the shopping events before and after. Activity that started as a US-only phenomenon has rapidly spread to other parts of the world. Should we term this as 'Globalization era'? The retailers are raising upto this challenge. Considerably there is a 15-20% increase of total spend by customers over the four-day weekend following Thanksgiving in 2011 when compared to 2010 and is bound to increase further this year. The number of consumers shopping either online or offline on the holiday has steadily increased to 22% in 2011 from 15% in 2008, according to the NRF. Real-time data and analytics are increasingly important to online retailers to plan the events and be prepared.

 


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