Posted 12/01/08 at 07:09:39 AM by Paul Lilly

International management consulting firm Oliver Wyman released a survey last week painting a pretty grim outlook for technology and media sales, but that didn't stop shoppers from flocking online on Black Friday. According to comScore, consumers spent $534 million online on Black Friday, November 28th, up 1 percent from last year. Total online sales were up 2 percent for the combination of Thanksgiving Day and Black Friday, beating out expectations.

"Early reports suggest that Black Friday sales in retail stores were slightly better than anticipated in this depressed retail climate, and that performance apparently extended to the online channel, which saw sales on Thanksgiving Day and Black Friday combined increase 2 percent versus year ago," said comScore chairman, Gian Fulgoni. "It's probable that on Black Friday consumers responded positively to the very aggressive promotions and discounts being offered in retail stores."

Despite the 2-day sales boost, e-commerce spending for the first 28 days of November was down overall at $10.41 billion, 4 percent less than what it was in the same time frame one year ago.

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Posted 11/27/08 at 10:22:00 AM by Paul Lilly

There are a few things you can count on happening every Thanksgiving holiday. Eating too much turkey and pumpkin pie? That's a given. Arguing with the in-laws? Only if they're invited. Watching the Detroit Lions lose to ____ (fill in the blank, as the opposing team is irrelevant to the outcome)? You can count on it. And finally, should you decide to venture out on Black Friday, encountering a horde of shoppers more frightening than anything you're likely to encounter in Left 4 Dead? That's an understatement.

But while the pushing and shoving and the sheer number of shoppers isn't likely to let up, the spending just might. According to a new survey by international management consulting firm Oliver Wyman, the outlook for technology and media sales looks pretty grim as six out of ten U.S. consumers plan to cut back spending (PDF).

Desktop PCs, notebooks, media players ,and digital cameras look to the take the biggest hit, with over half of the survey's respondents saying they plan to spend less on such devices in the next year, resulting in a 10 percent drop in sales. Oliver Wyman notes that promotional pricing would increase unit sales, but it wouldn't be enough to justify broad discounts.

"Price discounts should be used cautiously and targeted at on-the-fence purchaser segments when used,"  Wyman analyst Mark Teitell said. "There's a risk of cannibalizing revenue from consumers already intending to make the purchase, without drawing sufficient new buyers to increase revenues overall."

The survey warns that consumers are being selective in where they pull back, such as delaying the purchase of an electronic device rather than downgrading a subscription service, such as broadband internet or a mobile phone data plan. With that in mind, those tantalizing sale prices might not come as often next year. That almost makes you want to brave the crowds on Black Friday. Almost.

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Posted 11/17/08 at 02:05:44 PM by Paul Lilly

It's that time of year again when scorching hot deals start to scatter the web in anticipation of Black Friday, one of the biggest online shopping days of the year. Despite still being almost two weeks away, several retailers have already posted Black Friday ads, giving bargain hunters a head start. But lest the hunter becomes the hunted, buyers should take caution not to fall prey to identity thieves.

According to the FTC, consumers were stung for more than $1.2 billion in losses last year as a result of identity theft and fraud. Consumers, who are already stretched thin amid a struggling economy, should be extra cautious this shopping season.

"While the holiday season is surely a time for cheer and celebration, it is also a time when identity thieves are waiting for the perfect opportunity to pounce on unsuspecting consumers," said LifeLock CEO Todd Davis. "Whether it takes place at shopping malls or online, identity theft can increase over the holidays."

Most, if not all of LifeLock's recommended safety precautions will rank as obvious to seasoned shoppers and the tech savvy alike, but they're worth brushing up on before going on that holiday spending spree.

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