Cyber Monday Spending Breaks $1 Billion

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For those of you who made an online purchase on Cyber Monday, congratulations you helped set the record for the biggest shopping day in online history. About $1.3 billion dollars was spent the Monday after Thanksgiving alone, up 16 percent since last year, according to comScore.

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“The online holiday shopping season has clearly gotten off to a very strong start, which is welcome news,” comScore chairman Gian Fulgoni said in the press release. “At the same time, it’s important to note that some of the early strength in consumer spending is almost certainly the result of retailers’ heavier-than-normal promotional and discounting activity at this early point in the season. So, while we anticipate that there will be more billion-dollar spending days ahead as we get deeper into the season, only time will tell if overall consumer online spending remains at the elevated levels we’ve seen thus far.”

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Overall the holiday weekend went up 13 percent, making retailers breathe a sign of relief that the recession might be on its way to being over. The average person spent $114.24 this past Monday, and surprisingly while more people still shop at work, it went down drastically from last year. (Oh, wait what I said about the recession being over… yeah, that might be wrong. Perhaps unemployed people were buying more from home this year than last? Or the deals were just better overall?) The good news overall is that companies are happy, and when they’re happy, hopefully that means cheaper items for us.

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