Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Cyber Monday Sets Spending Record

Cyber Monday Sets Spending Record

Add to Favorites:
Cyber Monday Sets Spending Record
November
30

Seven years after it was first dubbed Cyber Monday, the first Monday after Thanksgiving, this year set a record as the biggest online shopping day in history.

Consumers clicked their way to $1.465 billion in purchases on Monday, making it the second day this season to exceed $1 billion in online sales. Black Friday – the day after Thanksgiving – also saw more than a billion dollars in online commerce.

Cyber Monday coined in 2005

In 2005, Shop.org dubbed the Monday after Thanksgiving Cyber Monday in an attempt to capitalize on the spike in online spending that was being seen as workers returned to their office computers. For the first several years, Cyber Monday didn’t live up to its own hype, barely cracking the top ten spending days of the holiday season, according to ComScore’s Gian Fulgoni.

The last two years, Cyber Monday seems to have finally gained a firm foothold. The day was the biggest online spending day last year as well as this year. Retailers offered their best deals on Monday and marketed them heavily, priming consumers to fill up online shopping carts and click “submit payment” at a record rate. Viral marketing through social networks may have played a role in the stampede of shoppers who helped push spending to record numbers.

Shopping from work

On a day when many people returned to work after a long holiday weekend, a good number of those people spent part of their first day back surfing retail sites. ComScore, a digital commerce tracking firm, reported that 47.1% of purchases on Monday were made from work computers. Another 47.1% came from people shopping from home, and international shoppers accounted for the remaining 5.7% of purchases at U.S. websites.

Digital content dominates

The most popular items among consumers were digital content and subscriptions, consumer electronics including smartphones, and computer hardware including tablets. Video games and accessories, as well as jewelry and watches, filled out the top five shopping categories.

To date, online holiday spending has reached $16.4 billion – up 17% from last year, according to ComScore.

Add to Favorites:

Related News:

Thanksgiving Weekend Nets Over $22 Billion in Sales

By Elizabeth Nelson, Posted: December 03, 2012

The holiday shopping season kicked off with a bang. Over $22 billion was spent on “Black Weekend” – the four-day period from Thanksgiving Day through Sunday.  Cyber Monday provided another boost to retail and online sellers. Continue reading
$1 Billion in Online Sales on Black Friday

By Elizabeth Nelson, Posted: November 27, 2012

Shoppers stormed online retailers on Black Friday, spending over $1 billion to make it the biggest day so far this year for Internet sales. Continue reading
Spending Expected to Be Up For the Holidays

By Dar Dowling, Posted: November 14, 2013

Consumers expect to be reach deeper into their wallets this holiday season, according to Discover. Nearly half of respondents said that they will be spending between $500 and $5,000. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
Earn 1% cash back on gas and grocery purchases. Terms apply.
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit