Cyber Monday Tops $1 Billion in Sales for First Time

Cyber Monday Tops $1 Billion in Sales for First Time

Cyber Monday Tops $1 Billion in Sales for First Time

The holiday shopping season is officially underway and while most of the early focus is on Black Friday, the new kid on the block made its mark this year.  Over the past several years, Cyber Monday has become one of the biggest online shopping days of the year.  This year, the event topped $1 billion in American sales for the first time.

Cyber Monday has become an annual event offering shoppers a smorgasbord of discounts and deals on the Monday following Black Friday.  The difference is that shoppers do everything online instead of racing out early before the sun rises and fighting long lines, cold weather, and angry shoppers.  Cyber Monday is holiday shopping for the 21st century.

In a recent release, comScore reported that online holiday shopping has been more successful this year than in any previous year.  The company defines the holiday shopping season as the first 29 days of November as well as the December shopping days that lead to Christmas.  To date, this year’s online holiday shopping has generated more than $13 billion in sales, up 13 percent from the same time a year ago.  In addition to the overall increase in online holiday spending, Cyber Monday topped $1 billion in sales for the first time ever and represented an increase of 16 percent over the previous year.  This past Monday is said to have been the biggest online spending day in history.

While more money being spent was a good thing, comScore numbers indicate that there is still much room to grow.  This year’s increase was primarily driven by an increase in average spending per buyer.  The total number of online transactions for the day increased by only 6 percent, but the average amount spent per transaction increased by more than 10 percent, while spending per buyer increased by 12 percent. 

Online retail experts have said that the Cyber Monday figures are a good indication that online holiday shopping may continue to produce huge revenues during this year’s holiday season, with the possibility of more billion dollar days as the season continues to move towards Christmas.


Log in