Cyber Monday 2011 Sets Single-Day Online Sales Record

Cyber Monday online spending this year reached $1.25 billion, up 22 percent compared to year ago, and marked the biggest e-commerce single-day total ever, according to comScore, the widely-cited digital marketing firm.
It was only the second day on record that surpassed $1 billion – the first was last year’s Cyber Monday total, comScore reported.
U.S. e-commerce spending for the first 28 days of the November/December 2011 holiday season stands at $15 billion, a 15-percent increase versus the corresponding days last year.
Cyber Monday, the traditional Monday following Thanskgiving weekend, has been the subject of widespread marketing and promotions since 2005, when the National Retail Federation came up with the phrase.
This year’s 22-percent growth in sales versus year ago was driven by an increase in both the number of buyers (up 11 percent) and the average spending per buyer (up 9 percent), comScore said.
Overall, 10 million people bought online on Cyber Monday, the first time on record that milestone has been reached in a single day. The average online buyer conducted 1.9 online transactions on Cyber Monday for a total of nearly $125 in spending.
ComScore chairman Gian Fulgoni said the rest of the holiday shopping season will determine if the widespread discounting online and in stores, so far, will have a “negative impact on retailers’ margins.”
“Looking forward to the balance of the season, it will be very important to continue to monitor the trend in consumer spending to determine the degree to which retailers’ heavy promotional activity at the beginning of the shopping season, and consumers’ encouraging response, has pulled forward consumers’ future buying,” Fulgoni said.

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