August 24, 2016
Cyber Monday Sales Exceed $2 Billion Online for First Time
Dec. 4, 2014
Online sales topped $2 billion on Monday, becoming the heaviest online spending day in U.S. history, according to digital measurement firm comScore. The $2.04 billion raked in by online retailers on Cyber Monday was 17 percent more than last year and the first time ever e-commerce merchants surpassed $2 billion in sales on one day. So far, growth in e-commerce sales has been strong. Earlier this week, comScore reported billion-dollar days on Thanksgiving and Black Friday and the company said for the entire Thursday-to-Monday weekend, online retailers amassed more than $6.5 billion in sales and posted growth of 24 percent compared to the holiday kickoff weekend last year. All in all, the online channel has performed exceptionally well for merchants so far this year, according to comScore Chairman Emeritus Gian Fulgoni.
“With more than $2 billion in online buying on Cyber Monday to cap an exceptionally strong five-day period since Thanksgiving, the online holiday shopping season is clearly going very well at the moment and is currently running ahead of forecast,” said Fulgoni. “Any notion that Cyber Monday is declining in importance is really unfounded, as it continues to post new historical highs and reflects the ongoing strength of online this holiday season. Varying reports have also indicated weakness in the consumer economy due to flagging brick-and-mortar sales over the holiday weekend, but what we may really be seeing is an accelerating shift to online buying as mobile phones spur increased showrooming activity. The data we’re seeing suggest it may be more a change in shopping behavior than a lack of consumer demand.”