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article imageCyber Monday: Sales expected to surge past $1 billion

By Alexandra Christopoulos     Nov 28, 2011 in Business
Shoppers preferring to surf the web for their Christmas gifts are expected to break an online record today, on Cyber Monday. Whether purchasing from their smartphones or computers, retailers are expected to post about $1.2 billion in online sales.
The estimate, which is monitored by online tracker comScore, might make the holiday trend the heaviest day of online shipping , as cyber deals continue to surge.
Instead of waiting in long line ups to the front of the cash register, or being stuck in large mall crowds, 'Cyber Monday' was created in 2005 by a retail trade group encouraging Americans to shop online the Monday after Thanksgiving.
And the bargains appear to be paying off. Data from the National Retail Federation revealed almost 80 per cent of retailers planed to offer special promotions. With traffic also on the rise, the numbers show a growing number of shoppers comfortable with using their computers, tablets and smart phones to get everything on their wish lists for everyone, this season.
By early afternoon, online traffic was up almost 46 per cent, according to Akami, a firm that follows web activity.
With sales to be up until the end of day, there appears to be discounts on just about anything, from spa treatments to dog foods. Other items, however, have gained even more momentum.
Amazon, for instance, claims to have sold over four times the amount of its popular Kindle devices. Various charities have also generated buzz on social networking sites, like Facebook and Twitter, for the promotion of their works.
Since increasing in popularity more than seven years ago, 'Cyber Monday' may soon become a week long online sensation, with numerous retailers extending sales.
More about Cyber monday, cyber monday 2011, Online shopping
 
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