Cyber Monday Shatters $700 Million Mark

Cyber Monday saw $733 million in online consumer spending, a 21-percent increase versus last year and an 84-percent jump from the average daily online spending totals during the preceding four weeks, according to comScore Inc. More than $10.7 billion has been spent online during the first 26 days of the holiday season (Nov. 1-26), marking a 17-percent gain versus the corresponding days last year.

CyberMonday.com, a site for online retailers to advertise their holiday season promotions, also experienced notable gains on Cyber Monday, attracting 56 percent more visitors than Cyber Monday a year ago and representing a 25-fold increase versus the average daily visitors during the preceding four weeks.

Other days during the traditional opening of the holiday season also showed significant increases. For example, online consumer spending on Thanksgiving Day (Nov. 22) increased 29 percent to $27 million, year-over-year. Spending on Black Friday rose 22 percent to $53 million, year-over-year.

All figures given by the Reston, Va.-based company, which measures digital data, excludes spending on travel, auctions, and large corporate purchases.

“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.”

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, according to comScore, 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.

The top 10 sites are as follows:

Amazon Sites                                   50%

Wal-Mart                                      103%

Target Corporation                             86%

Dell                                          106%

Best Buy Sites                                110%

Yahoo! Shopping                                85%

Apple Inc.                                      5%

Overstock.com                                 139%

Circuit City Stores, Inc.                      136%

MSN Shopping                                   261%