1 Billion Dollars Spent Online During Cyber Monday

This year’s Cyber Monday was the heaviest online spending day in history.

That’s right, shoppers. You spent over 1,000,000,000 USD online during the passing Monday. During the first 29 days of November, consumers spent $13.55 billion online. Cyber Monday reached $1.028 billion in online spending, up 16 percent versus year ago, representing the heaviest online spending day in history and the first to surpass the billion-dollar threshold.

So, is the recession finally over? Are people starting to spend more because they have more to spend? The online holiday shopping season has clearly gotten off to a very strong start – but does that mean we are heading for a better financial future? According to comScore, “it’s important to note that some of the early strength in consumer spending is almost certainly the result of retailers’ heavier-than-normal promotional and discounting activity at this early point in the season”.

The average transaction on Cyber Monday was about $60, which is 10% higher than last year.

Another interesting figure, is that nearly half of the money spent online at U.S. Web sites during Cyber Monday originated from work computers (48.9%). This doesn’t mean that people don’t have computers at home, but rather that they prefer the higher-speed connections at home, and maybe they are also trying to hide their shopping from their loved ones, in order to keep it a surprise. Plus, it’s a well known fact, that people don’t really WORK while at work, so shopping is just another way to Farmville.

(source)

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