Retail
The SBM 80 Index Rises on the Strength of the Region’s Online Retail Sector
By Seattle Business Magazine November 29, 2010
The SBM 80 Index, Seattle Business Magazine’s index of the shareprices of Washington’s top public companies, rose today, even as the broader market fell, on the strong of the region’s online retailers.The SBM 80 index rose 0.18 percent versus a 0.14 percent decline in the S&P 500
Performance in the SBM 80 was particularly strong among such online retailers as Amazon, Blue Nile and Expedia reflecting strong “Cyber Monday” sales, the name given to the Monday after Thanksgiving when many people shop for online deals from the comfort of their offices.
The Wall Street Journal reported today that estimates for online sales increases over last year ranged from 15 percent to 21 percent. The Journal reported a continued trend of shoppers choosing to shop online rather than at physical retail stores.