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Hitwise: E-Commerce Surge At Walmart, Target, Best Buy, And JC Penney

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By Douglas A. McIntyre Published
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Hitwise released its report about e-commerce activity at the top 500 online retailers on Cyber Monday. Overall activity rose 24%, which is in line with other data.

The online research firm said Amazon.com (NASDAQ: AMZN) outdid its competition, which was to be expected. It remains the largest e-commerce company in the world, and sales of its new Amazon Kindle Fire have bolstered revenue

According to Hitwise:

Amazon was the top retail site receiving traffic on Cyber Monday with a 36% increase in visits vs. 2010

Some of the other results were different than might be expected. While Walmart (NYSE: WMT) and Target (NYSE: TGT) were among the most visited sites, so were JC Penney (NYSE: JCP) and Best  Buy (NYSE: BBY). Best Buy has been criticized for not doing more online to combat Amazon. JC Penney has just added the head of Apple’s (NASDAQ: AAPL) retail operation as its new CEO. He has gotten a gift early in his tenure if the Hitwise numbers are correct.

 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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