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 Amazon.com 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% Overstock.com 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.