$700mm Cyber Monday?

ComScore published some data points which are relevant for merchants and CSEs alike:

  • $9.3 billion spent online from November 1 through 23, a record and 17 percent higher than the $8.1 billion spent online last year
  • Online sales on Thanksgiving Day were up 29 percent, while Black Friday sales were up 22 percent from last year
  • Online spending is forecast to exceed $29.5 billion, a record amount but slower growth than previous years at 20 percent — which brought in $23.6 billion — and slowing to 5 percent growth
  • From January through October 2007, buyers spent $93.6 billion in online retail stores
  • People shop online mainly for the convenience factor (81 percent said they wanted to be able to shop at any time) and 77 percent said they did it to save time
  • Almost 3/4 of online retailers planned Cyber Monday promotions, almost 30 percent more than the 42 percent that did so last year
  • Shoppers were expected to spend $700mm yesterday, up from $608mm last year!
  • The biggest shopping day is still yet to come in mid-December!
  • Yahoo! Stores, Sears, Circuit City and Lowe’s sites were overloaded yesterday…so make sure you’ve got your servers hotrodded out
  • Shipping incentives and deep discounts were common incentives, with Macy’s offering the lowest threshold ever for free shipping at $75

And some extra goodness from Shop.org:

  • 72mm consumers were estimated to have shopped online yesterday, up from 61mm and 59mm in 2006 and 2005, respectively
  • 55 percent of office workers with Internet access did their shopping at work

Written by Scott Hurff — scott.hurff at channeladvisor