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U.S. online shoppers set record on Cyber Monday

By Chris V. Thangham     Nov 28, 2007 in Internet
Cyber Monday's online shopping day this week broke records, as shoppers spent more than $733 million in a single day. It rose more than 21 per cent over last year according to ComScore statistics.
Cyber Monday shopping will likely become a tradition like Black Friday shopping day after record-breaking sales this Monday. Cyber Monday is the first Monday following the Thanksgiving day holiday and is considered the start of the online holiday shopping season.
Though shoppers buy online beginning Friday onward, most online shops give deep discounts like retailers on Black Friday.
ComScore estimates that consumers spent nearly $733 million online, 21 per cent more than last year.
The number of online buyers rose 38 per cent over last year. In the past, shoppers were wary of shopping online, but habits have changed and now more consumers are buying products from the Web.
Though figures increased, the average dollar spent by consumers decreased by 12 per cent. Comscore says this may be due to high gasoline prices and rising prices in the market.
ComScore also "...attributed that decline to a tendency among new Cyber Monday shoppers who spend less than veteran buyers.
As expected, more shoppers purchased from the workplace, representing 60 per cent of total shoppers counted. And as many as 44 per cent of all Internet users shopped online during Cyber Monday.
According to ComScore, the most-visited sites during Cyber Monday were Amazon, Wal-Mart Online, Target, Dell and Best Buy's online stores.
I think these figures are impressive, as online sales have always been low relative to retail sales. This gap may be shrinking as a result of consumer's familiarity with the Web, including using sites like social networks, or sites that make online shopping easy using online payment methods such as Google Checkout or Paypal.
More about Online shoppers, Record, Cyber monday