retail news in context, analysis with attitude

USA Today reports this morning that yesterday’s Cyber Monday promotions - the online response to the post-Thanksgiving Black Friday weekend sales - appears to have generated 43 percent more online traffic than a year ago, and sales that were up 18 percent compared to the same day in 2010.

The story quotes Matt Shay, CEO of the National Retail Federation, who said that sales on Cyber Monday and over the long weekend show retail is "providing a needed shot in the arm to our nascent recovery."

The Dow Jones story on the same subject says that “retailers are expected to post a record $1.2 billion in online sales this Cyber Monday, only the second time a billion dollars in online commerce has occurred in one day. The estimate, by online tracker comScore, compares with last year's $1.03 billion and shows the power that Cyber Monday carries with holiday shoppers.”
KC's View:
I think Stephen Colbert got it absolutely right last night on “The Colbert Report.” These numbers show that America is back - that Americans once again “are spending money they don’t have on presents that nobody needs to give to people that they don’t like.”