Cyber Monday Online Retail Spending Hits Record $733 Million
Here are snippets from a comScore press release about Cyber Monday online spending… and it’s good news all ’round.
RESTON, Va., Nov. 27 /PRNewswire-FirstCall/ — comScore, Inc. (Nasdaq: SCOR), a leader in measuring the digital world, today released an update of holiday season e-commerce spending covering the first 26 days (November 1 – 26) of the November – December 2007 holiday season, including spending totals for Cyber Monday (November 26). More than $10.7 billion has been spent online during the season-to-date, marking a 17-percent gain versus the corresponding days last year. Cyber Monday saw $733 million in online spending, representing a 21-percent increase versus last year and an 84-percent jump from the average daily online spending totals during the preceding four weeks.
“Cyber Monday is an important day during the online holiday shopping season, representing the first significant spike in online holiday spending activity,” said comScore Chairman Gian Fulgoni. “Cyber Monday once again set a record with $733 million in sales, the first time a single day of online retail spending has broken the $700 million threshold. While that makes it the heaviest online shopping day on record, we expect that a number of individual shopping days during the coming weeks will surpass the Cyber Monday total, with some days potentially surpassing $800 million.”
Some other notable findings for Cyber Monday 2007 include:
- The number of online buyers was up 38 percent compared to Cyber Monday 2006, while the average dollars spent per buyer was down 12 percent. The decline in dollars per buyer may be due to two factors — deeper and broader price discounts offered by online merchants this year and the fact that “new Cyber Monday buyers” tended to spend less online than returning buyers.
- 6 percent of the Internet users on Cyber Monday made an online purchase.
- 44 percent of Internet users on Cyber Monday shopped online (i.e. visited an online retail site or used a comparison shopping engine)
- 60 percent of dollars spent online on Cyber Monday came from work computers, with the balance coming from home and university computers.
On Cyber Monday, most of the top online retail sites experienced significant gains in the number of visitors. Amazon Sites saw the most visitors on Cyber Monday 2007, up 26 percent gain versus the same day last year and up 50 percent compared to the average daily visitors during the four weeks leading up to Cyber Monday. Six out of the top ten retail sites saw their visitors more than double compared to the daily average over the four weeks preceding Cyber Monday. Apple’s modest gains are the result of consistently high traffic levels during the weeks preceding Cyber Monday.
Read the full press release at comScore, Inc..
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Rosalind Gardner is a Super Affiliate blogger, author, speaker, and Internet marketing consultant.
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