Site icon Bill Hartzer

Cyber Monday Spending Hits Record $733 Million

Cyber Monday, November 26, 2007 had its unbelievable snafoos, but it ultimately was a success. In fact, comScore is reporting that sales are up 21 percent over last year.

comScore also said today that and Wal-Mart were the top online retailers amongst all of the Cyber Monday visitors on November 26, 2007.

comScore is a leader in measuring the digital world. They released an update of this year’s holiday season e-commerce spending covering the first 26 days (November 1 – 26) of the November – December 2007 holiday season, including spending totals for Cyber Monday (November 26).

According to comScore, “more than $10.7 billion has been spent online during the season-to-date, marking a 17-percent gain versus the corresponding days last year. Cyber Monday saw $733 million in online spending, representing a 21-percent increase versus last year and an 84-percent jump from the average daily online spending totals during the preceding four weeks.”

2007 Holiday Season To Date vs. Corresponding Days* in 2006
Non-Travel (Retail) Spending
Excludes Auctions and Large Corporate Purchases
Total U.S. - Home/Work/University Locations
Source: comScore, Inc.

                                                 Billions ($)
Holiday Season to Date             2006            2007        Pct Change
November 1 - 26                   $9.14          $10.74           17%
Thanksgiving Day (November 22)    $0.21           $0.27           29%
"Black Friday" (November 23)      $0.43           $0.53           22%
"Cyber Monday" (November 26)      $0.61           $0.73           21%

* Corresponding Shopping Days, Not Calendar Days

Cyber Monday, the first Monday after black friday (the day after Thanksgiving in the USA) is one of the most important days in the holiday shopping season for online retailers. It usually represents the first big spike in holiday sales activity.

Cyber Monday November 26, 2007 set a record with $733 million in sales, This was the first time a single day of online retail spending has broken the $700 million mark.

Some other notable findings for Cyber Monday 2007 according to comScore include:
— The number of online buyers was up 38 percent compared to Cyber Monday 2006, while the average dollars spent per buyer was down 12 percent. The decline in dollars per buyer may be due to two factors — deeper and broader price discounts offered by online merchants this year and the fact that “new Cyber Monday buyers” tended to spend less online than returning buyers.

— 6 percent of the Internet users on Cyber Monday made an online purchase.

— 44 percent of Internet users on Cyber Monday shopped online (i.e. visited an online retail site or used a comparison shopping engine)

— 60 percent of dollars spent online on Cyber Monday came from work computers, with the balance coming from home and university computers.

comScore is reporting the top 10 retail shopping sites ranked by visitors:

Top 10 Retail Sites Ranked By Visitors on Cyber Monday (November 26, 2007)
Total U.S. - Home/Work/University Locations
Source: comScore, Inc.

Retail Site                                     Percent Change
                                     vs. Average Daily Visitors during 4
                                           Weeks Preceding Cyber Monday
Amazon Sites                                                        50%
Wal-Mart                                                           103%
Target Corporation                                                  86%
Dell                                                               106%
Best Buy Sites                                                     110%
Yahoo! Shopping                                                     85%
Apple Inc.                                                           5%                                                      139%
Circuit City Stores, Inc.                                          136%
MSN Shopping                                                       261%

What’s amazing to me is that although Yahoo! Stores had a horrible day yesterday with their Yahoo! Store outage they still ended up making the top 10 list. Note that Yahoo! Stores are generally small businesses and are not related to the Yahoo! Shopping portal.

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