It was a record-breaking Cyber Monday but when all was said and done, one company was left holding the biggest piece of the pie.
By the end of the day online sales from across the country had topped six billion dollars, a 16.8% increase from last year. According to a market research firm, Amazon alone held an estimated 42% of those sales.
To edge out competition the online retailer holds a sale from Black Friday through Cyber Monday, giving people four days to find what they need. In addition, experts say Amazon has become the go to site for consumers.
Amazon is where most people start their online shopping, it’s also where they go to compare prices to make sure they get the best deal. Because of that many other stores, whether brick and mortar or online are finding it hard to keep up.
One company hoping to stay in the running is Walmart. Analysts say their prices are now only slightly more expensive and with the addition of in-store pickups competition is heating up.
About Brian
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
