Cyber Monday Sales Top $1 Billion1 Dec, 2010 By: Erik Gruenwedel
Sparked by a flurry of deals and discounts, consumers spent a record $1.02 billion online shopping Cyber Monday, up 16% from the same day following the Thanksgiving weekend last year, according to research firm comScore.
Indeed, e-commerce for the holiday season (29 days in November) thus far is up 13% to $13.55 billion, according to comScore. As previously disclosed, e-commerce activity on Thanksgiving ($407 million) and Black Friday ($648 million) was up 28% and 9%, respectively.
Sales included packaged media such as DVD/Blu-ray Disc movies and Blu-ray players. Consumer electronics generally account for about 7% of e-commerce spending, according to comScore.
“Cyber Monday was a historic day for e-commerce as we saw daily spending surpass $1 billion for the first time,” said comScore chairman Gian Fulgoni. “The online holiday shopping season has clearly gotten off to a very strong start, which is welcome news.”
Fulgoni cautioned that initial online sales figures underscore aggressive discounting offered by retailers, which will likely decrease as Christmas approaches.
“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,” he said.