Online retailers see sales increases on Cyber Monday over 10% higher than those from Black Friday
Here in the supply chain world, I am always interested in consumer news since 80 percent of the U.S. economy is driven by consumer spending. And of course a good chunk of that spending is occurring right now. We now know Cyber Monday was hot and Black Friday was not.
Wal-Mart, Target and other online retailers saw cybersales jump 17.5 percent to 19 percent, depending on which measurement you use. Half of those sales were made over a smartphone or tablet, as mobile devices are now the preferred way to buy online.
Thanksgiving/Black Friday retail sales were up 2.3 percent, matching expectations, the smallest sales increase since 2009. ShopperTrak said sales were $12.3 billion on heavy retailer discounting.
In a forecast of economic growth for the next three to six months, the leading economic indicator index released by the Conference Board showed a 0.2 percent gain in November. The index had been up 0.7 percent in October.
Transportation News: 2014 Forecast
In transportation, regulatory and service issues are still on the minds of transportation executives as they look into the coming year. Among the challenges and opportunities:
Speaking of YRC, the fight for survival continues as they are seeking flexibility from the Teamsters in locking down contractual changes for a five-year period. Without it, lender funding could dry up, forcing YRC into bankruptcy. Considering the significant Teamster ownership position in the company, I would expect for them to work out some kind of arrangement.
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Yusen Logistics announces that Ian Veitch, Managing Director of Yusen Logistics (UK) Ltd, has been appointed to the position of Managing Director of Yusen Logistics (Europe) B.V.
The recent cyber-attacks on US-retailers Target and Neiman Marcus have brought security risks to the spotlight.