(NEW YORK) — Cyber Monday online sales were up 28 percent compared with a year ago, according to IBM Benchmark. And much of this was fueled by one company: Amazon.
The retail powerhouse is — by far — the biggest online player.
“Amazon’s sales this year are going to be about $60 billion,” says Barney Jopson, who covers the retail industry for the Financial Times.
The second-largest online retailer is Walmart, which “reckons next year it’s going to sell about $9 billion of stuff,” Jopson said.
But while consumers enjoy Amazon’s low prices and reliable deliveries, a potential downside during the holidays could be a decline in customer service and advice from knowledgeable sales people.
As Jopson explains, “Amazon is all about having the broadest possible selection and then the way they think about it is consumers can do their own research online.”
Copyright 2012 ABC News Radio
Matt Egan, CNN
Paul Menser, BizMojo Idaho
Kathryn Vasel and Jill Disis, CNN
Kathryn Vasel, CNN