Virtual Value and Space-Time
Wow, the future was yesterday. The shopping data for Black Friday and Cyber Monday 2009 is eye-popping. In the never-ending race for shopper’s wallets, the agile have taken the day. Below are some data released by Coremetrics’ second annual Cyber Monday Benchmark Report:
- Cyber Monday continued the momentum set by Black Friday. Sales were up 24.1 percent compared to Black Friday 2009.
- Consumers spent more per online order ($180.03 versus $170.19 for an increase of 5.8 percent) compared to Black Friday 2009.Sales were up 13.7 percent compared to Cyber Monday 2008.
- The average dollar amount consumers spent per online order rose 38.2 percent from Cyber Monday 2008 ($180.03 versus $130.24), led by apparel retailers.
- Consumers bought nearly 10 percent more items per order on Cyber Monday 2009 compared to Black Friday 2009 and nearly 30 percent more compared to Cyber Monday 2008.
- Consumer shopping hit its peak from 9-10 a.m. PST, but maintained stronger momentum throughout the day than on Cyber Monday 2008.
More people chose convenience over crowds, comfort over queues, time over traffic, delivery over bundles and bags, price over pain ….. wow … the virtual marketplace is past gaining ground for holiday shoppers, it holds the hill. Cyber Monday brings evidence that some figured out the value is not only about price… it comprises much more.
So how virtual are we?
How do our customers find us?
Are we convenient to do business with? How do we know?
Do we have a handle on what value means and, more importantly, how to measure it?
Are we delivering more or less value today than yesterday?
How much are we dependent on structure, place, headcount, brick and mortar?
Is our value sustainable, decaying or being disrupted?
Have we learned about how to achieve business ubiquity?
Do we have ubiquity in our strategy?
Space-time is not just for physicists, is it?
