Cyber Monday Spending Tops $1 Billion
Posted on December 1, 2010 by
RESTON, Va.--U.S. consumers spent more than $1 billion online on Nov. 29, the so-called Cyber Monday, according to comScore, a research firm that tracks web spending and the digital market.
Cyber Monday's online spending total represented a 16 percent increase over Cyber Monday last year, making it the biggest day for online spending in history, comScore said in a statement. For the Nov. 1-29 period, U.S. shoppers spent nearly $13.6 billion, up 13 percent for the same period in 2009. Thanksgiving Day online purchases rose 28 percent to $407 million, and online spending on Black Friday totaled $648 million, up 9 percent over last year.
Gian Fulgoni, comScore's chairman, said the "early strength" in holiday-season online spending could be attributed to heavier-than-normal promotional and discounting activity by retailers on their websites. "So while we anticipate that there will be more billion-dollar spending days ahead as we get deeper into the season, only time will tell if overall consumer online spending remains at the elevated levels we've seen thus far," Fulgoni said.
During Cyber Monday, consumers' average purchases came to $114.24, a 12 percent increase over the average during the 2009 Cyber Monday. Dollars per transaction increase 10 percent to $60.05.