Cyber Monday drew millions of folks looking for deals, increasing sales over last year by a wide margin—and knocking out Black Friday's unexpected online results.
Preliminary sales figures suggest that total Cyber Monday sales could surpass $900 million this year, according to comScore. In contrast, Black Friday online sales reached $595 million, up 15 percent from the previous year. Cyber Monday shoppers gobbled up sales and spent an average of $180.03 per order compared to $170.19 on Black Friday.
Analysts had predicted Monday's sales would increase just 5 percent. And for much of the day, it looked as if those predictions were overly optimistic. Fewer-than-expected sales were made during the workday, according to news reports. However, traffic to online retail sites spiked after hours. In fact, traffic to retail sites peaked at 9:30 p.m. EST, with roughly 5.1 million shoppers per minute, reports Akamai Technologies.
"With more people shopping on Cyber Monday this year, and an increasing number of retailers offering promotions, this was the largest—and most important—Cyber Monday yet," notes Scott Silverman, executive director of Shop.org.
Shoppers spent 13.7 percent more this year than they did a year ago, reports Coremetrics, a market research firm. The sales made sellers happy, Silverman adds, and they'll continue to look for ways to attract buyers.
"While many online retailers are breathing a sigh of relief after a successful Cyber Monday, they will quickly shift their focus to finding ways to bring shoppers online for the rest of the holiday season," he says.
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Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.