Data from Comscore shows the growth of Cyber Monday as an increasingly important day for retailers.
“Since its inception, we have witnessed an extremely strong growth in Cyber Monday spending with sales more than doubling from 2005-2010, with a compound annual growth rate of 16% during that time frame,” writes Andrew Lipsman of Comscore.
“2010 was an especially important year in the history of Cyber Monday as online spending reached $1.028 billion, the first time on record that a single day had eclipsed the $1 billion spending threshold. It also achieved another landmark by finishing as the heaviest online spending day of the year for the first time in history!”
Looking forward to today, Lipsman predicted even more growth.
“For Cyber Monday 2011, I think we will see another big spending day that will fall within the top 3 days of the year. Due to the relatively high number of shopping days between Christmas and New Year’s this year, it is likely that some of the early demand is smoothed out and that several of the days later in the season will contend with Cyber Monday. But I would not be surprised to see it reach a level of $1.2 billion as it once again kicks off the heavy part of the season of online holiday shopping.”
Read the Comscore blog here.
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