Plus   Neg

ComScore Reports 17% Growth In Cyber Monday U.S. Retail Online Spending

CyberMonday 112812

Internet data tracking firm comScore, Inc. (SCOR), revealed Wednesday that retail online spending on Cyber Monday increased 17 percent from last year. Retail online spending for the first 26 days of the 2012 holiday season grew 16 percent from last year.

The data is based on non-travel online retail spending in the U.S. from home and work locations, excluding auctions and large corporate purchases.

"The term 'Cyber Monday' was coined by Shop.org in 2005 to refer to the significant jump in e-commerce spending that occurred following the Thanksgiving holiday weekend as consumers got back to sitting in front of computer screens at work," comScore Chairman Gian Fulgoni said in a statement.

Cyber Monday online spending grew 17 percent to $1.465 billion from a year ago, representing the heaviest online spending day in history and the second day this season after Black Friday to surpass $1 billion in sales. Black Friday sales rose 28 percent to $1.04 billion from last year.

Cyber Monday has been the heaviest day of season for third consecutive year for retail online spending.

"Despite some news reports suggesting that Cyber Monday might be declining in importance, the day has once again set an online spending record at nearly $1.5 billion. However, it is also clear that the holiday promotional period has begun even earlier this year, with strong online sales occurring on Thanksgiving Day and Black Friday," Fulgoni added.

comScore noted that Digital Content & Subscriptions continued to set the pace among product categories for Cyber Monday sale, with a year-over-year growth rate of 28 percent. Consumer Electronics, buoyed by gains in smartphone sales, ranked second at 24 percent, and computer hardware category posted a 22 percent growth rate with the help of tablet sales.

Sales of video games, consoles & accessories were up 18 percent, while Jewelry & Watches sales grew 17 percent from last year.

The company revealed that shopping at U.S. websites originating from work computers accounted for 47.1 percent of the dollars spent on Cyber Monday, while a similar 47.2 percent originated from home. Meanwhile, buying at U.S. websites from international locations accounted for the balance 5.7 percent of sales.

Online spending during the most recent weekend of November 24 and 25 increased 15 percent to reach $1.19 billion, compared to the same period last year. Thanksgiving day sales grew 32 percent year-over-year to touch $633 million.

The holiday season retail e-commerce spending for the first 26 days of the November - December 2012 holiday season grew 16 percent to $16.38 billion from the year-ago period.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT