Analysts: Cyber Monday Sales Up2 Dec, 2009 By: Erik Gruenwedel
Spurred by the Black Friday momentum, so-called Cyber Monday (Nov. 30) retail sales rose significantly from a year ago, despite the fact that percentage increases cited by analysts varied from 13.7% to 83%.
Ralph Schackhart, analyst with William Blair & Co., citing data from Coremetrics, said the average dollar amount spent by consumers on Cyber Monday surged 38.2% to $180.03 from $130.24 last year.
That figure would appear to mesh with comScore, which found that online sales on Black Friday (Nov. 27) increased 11% year-over-year, to $595 million.
Orlando, Fla.-based Channel Intelligence reported an 83% increase in online sales on Cyber Monday for its retail clients, which include Target, Best Buy and Sears.
While the increase surpassed online sales increases on Thanksgiving Day (67%) and Black Friday (70%), the company said total sales fell below both Thanksgiving and Black Friday, confirming a trend that more consumers are shopping earlier in the holiday season this year than last.
Channel Intelligence said the shift occurred in large part to extensive pre-Thanksgiving and Thanksgiving-only deals found online this year.
“As expected, Cyber Monday sales were up significantly over last year, but Thanksgiving Day still remains the highest in terms of total sales,” said Channel Intelligence CEO Rob Wight. “Digging deeper, it became clear that the top-tier retailers are seeing extraordinary gains this year, while small and mid-tier retailers saw more moderate increases.”