Thursday, 22 July 2010 7:29 P.M.
Dollar Bonanza: Cyber Monday Surpasses $1 Billion in U.S. Spending
as Heaviest Online Shopping Day in History
Monday Shows 16 Percent Increase vs. Year Ago with Half of Online
Spending Coming from Work Computers
Monday is one of the busiest shopping days of the year.
Va., -- comScore (Nasdaq: SCOR), a leader in measuring
the digital world, today reported holiday season retail e-commerce
spending for the first 29 days of the November - December 2010 holiday
season. For the holiday season-to-date, $13.55 billion has been
spent online, marking a 13-percent increase versus the corresponding
days last year. Cyber Monday reached $1.028 billion in online spending,
up 16 percent versus year ago, representing the heaviest online
spending day in history and the first to surpass the billion-dollar
Monday was a historic day for e-commerce as we saw daily spending
surpass $1 billion for the first time," said comScore chairman
Gian Fulgoni. "The online holiday shopping season has clearly
gotten off to a very strong start, which is welcome news. 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."
Cyber Monday Sales Growth Driven by Increase in Spending per Buyer
16-percent growth in sales versus year ago was driven primarily
by an increase in average spending per buyer (up 12 percent) while
the number of buyers on Cyber Monday grew by a lower 4 percent to
9 million. The average spending per transaction grew 10 percent
to $60.05, while the total number of transactions increased 6 percent
to 17.1 million.
at Work Drives Cyber Monday Spending
of dollars spent online at U.S. Web sites originated from work computers
(48.9 percent), representing a decline of 3.8 percentage points
from last year. Buying from home comprised the majority of the remaining
share (45.4 percent) while buying at U.S. Web sites from international
locations accounted for 5.8 percent of sales.
its inception, e-commerce activity has been driven heavily by people
making online purchases while at work, an effect that is magnified
on Cyber Monday as people return to their desks after the Thanksgiving
holiday weekend," added Mr. Fulgoni. "While online shopping
from work originally occurred to take advantage of broadband speeds
that people lacked at home, it was widely believed that this would
decline markedly as home broadband connectivity increased. The fact
that spending from work remains so prevalent suggests other explanations.
It is more likely that consumers continue to shop from work primarily
because by doing so they are able to shop for holiday gifts while
minimizing the risk that their children, spouses and significant
others might see what Santa will bring."
Inc. (Nasdaq: SCOR) is a global leader in measuring the digital
world and preferred source of digital marketing intelligence. For
more information, please visit www.comscore.com/companyinfo.