The Internet retailer has topped lists of the most-visited Web sites on Cyber Monday since 2006. But as competition heats up, will Amazon lose its coveted spot at the top?
So far, it appears it is the e-commerce winners. The Internet retailer is outpacing most of its peers, with a 28% surge in traffic to its U.S. Web site so far this holiday season.
"Amazon's hybrid model is helping it gain share of the overall retail spending and total e-commerce sales, still benefiting from secular growth with less than 10% of retail sales online," Susquehanna Financial analyst Marianne Wolk wrote in a note.Shares of Amazon hit a 52-week high in early morning trading of $181.84.
Overall, e-commerce saw a 9% uptick on Black Friday, compared with a 7% jump forecast by Susquehanna Financial. Amazon rival eBay (EBAY) noted that its PayPal unit saw a 27% increase in total payment volume on Black Friday this year compared with 2009. Shoppers are increasingly turning to the Internet to troll for the best prices. To satiate consumers' cravings for discounts, online retailers have been rolling out offers since early November, most notably with free shipping. So far, the number of shoppers who made purchases online this weekend rose 15.2%, according to the National Retail Federation, to 33.6%, which is a strong sign heading into Cyber Monday shopping today.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV