One of the biggest online sales weekends has just finished and it has been a big one for some of Australia's biggest retail websites. It was also a big weekend for bricks and mortar retailers.
According to reporting by the Australian Financial Review, Amazon, eBay and Kogan.Com Ltd (ASX: KGN) all broke records between Friday and Monday.
Scentre Group (ASX: SCG) said that sales were higher than expected at bricks and mortars. The AFR quoted Scentre director of customer experience Phil McAveety, "We observed a strong uplift in customer and carpark traffic and valet services over the four-day period across our entire portfolio."
Politicians and retailers alike are hoping that the recovery of the Australian housing market will cause retail sales to rise on the back of higher consumer confidence because of the "wealth effect".
Analysts will now be keeping an eye on whether the rest of the lead up to Christmas shows an uplift in sales or whether the cyber weekend sales was the peak.
