Cyber Monday spending jumps 15 percent. What happened to bah humbug economy?

Cyber Monday spending jumps 15 percent. What happened to bah humbug economy?

Summary: Maybe there's some hope for the holiday season after all.Spending on Cyber Monday - the Black Friday of online shopping - jumped 15 percent from the year before, with online shoppers dropping a cool $846 million in a single day, according to comScore.

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Maybe there's some hope for the holiday season after all.

Spending on Cyber Monday - the Black Friday of online shopping - jumped 15 percent from the year before, with online shoppers dropping a cool $846 million in a single day, according to comScore. In fact, spending was up throughout the entire Thanksgiving holiday weekend, starting with a 6 percent jump on Thanksgiving Day, 1 percent increase on Black Friday and a 19 percent spike for two-day weekend.

Cyber Monday

For the last few years, Cyber Monday performance has been used as a indicator for the full season year-over-year growth of online sales. If history repeats itself, spending will be up 15 percent or so for the whole season. Then again, Monday was also the day the U.S. government officially said the "R" word - recession.

Previous coverage:

Cyber Monday traffic better than last year Netbooks dominate Cyber Monday sales Does Cyber Monday matter this year?

comScore also noted that more than half of consumers - 51 percent - said they found promotions and discounts to be higher this year, compared to last year. Only 12 percent said there appeared to be fewer deals. Meanwhile, 39 percent of consumers said that foot traffic in retail stores seemed to be lighter this year, while only 7 percent thought it was heavier.

Holiday Spending

Topic: Enterprise Software

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3 comments
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  • More businesses reporting?

    Might be a good reason for change? Maybe the news intentionally scaring retailers to drop prices? Maybe the deep discounts allowed more to buy the stuff they coudnt afford this year?

    But as the news said.. what about the discounts? Does the additional spending equate to actual profit or is the margin deteriorating?
    Been_Done_Before
    • Not quite

      It's actually probably going to be more like more people trying to catch the super deals and not doing as much shopping the rest of the month. I'd be willing to bet that overall numbers are going to reflect the economy the further into the month we get.
      php_developer
      • I think you are right

        I've already finished my Christmas shoping taking advantage of the deals online & at the local retailes.
        At the end of the season the numbers will loook weaker than last year.
        Linux Geek