8°c Partly cloudy
19°c Variable cloudiness
Winnipeg Free Press - PRINT EDITION
Cyber Monday sales surge in U.S.
NEW YORK -- Online shopping has surged in the U.S. this Christmas shopping season, with the effects spilling over from so-called Cyber Monday -- expected to be the biggest online shopping day of the year for the third straight year.
Americans were expected to spend $1.5 billion, up 20 per cent from last year on Cyber Monday, according to research firm comScore, as retailers expanded their deals to get shoppers to click on their websites. Early results from Monday showed online shopping was up 24.1 per cent compared with the same time period a year ago, according to figures by IBM Benchmark released at noon. The group does not track dollar-amount sales.
Related Items
-
Articles
But shoppers were also busy online on Thursday, U.S. Thanksgiving. And online sales on Friday, traditionally a boom day for shopping at stores offline, were up 26 per cent from the same day last year, to $1.042 billion. It was the first time online sales the day after Thanksgiving surpassed $1 billion.
For the holiday season to date, comScore found that $13.7 billion has been spent online, marking a 16 per cent increase over last year. The research firm predicts online sales will surpass 10 per cent of total retail spending this holiday season. Online sales on Thanksgiving Day rose 32 per cent over last year to $633 million, according to comScore.
With consumer spending making up 70 per cent of the still-struggling U.S. economy, coaxing Americans to shop this Christmas season is key.
A U.S. shopping trade group coined Cyber Monday after noticing that online sales spiked on the Monday following the Thanksgiving holiday. But it could just be a matter of time before other days take that ranking.
"Of all the benchmark spending days, Thanksgiving is growing at the fastest rate, up 128 per cent over the last five years," said Andrew Lipsman, a spokesman with comScore.
Retailers are hoping the deals will appeal to shoppers such as Matt Sexton, 39, who for the first time plans to complete all his holiday shopping online this year on his iPad tablet computer. Sexton plans to spend $4,000.
How well retailers fare on Cyber Monday will offer insight into Americans' evolving shopping habits during the holiday shopping season, a time when stores can make up to 40 per cent of their annual revenue.
-- The Associated Press
Republished from the Winnipeg Free Press print edition November 27, 2012 B3
More Business
- Back to Top
- Return to Business
More Business
(1 of 50 articles for this week)
Japan's top leaders defend 'Abenomics' economic strategies as roiled markets settle
12:38 AM 0TOKYO - Japan's top leaders are defending the economic strategies championed by Prime Minister Shinzo Abe, though the central bank ...
Poll
Most Popular Business
- New owner for lumber stores
- Skyline-altering project will happen: developer
- Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations
- New downtown tower could be 42 storeys tall: developers
- She's got entrepreneurial spirit
- The Galapagos to be just a click away: Google photographs famous islands for Street View
- Hobby Lobby appeal tests limits of federal birth-control coverage mandate
- Wealth survey indicates average person has $6.6K
- Creative industries can fuel a city's economic engine
- Target exceeds sales goal at Canadian stores
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- New downtown tower could be 42 storeys tall: developers
- Creative industries can fuel a city's economic engine
- Microsoft reveals Xbox One as all-in-1 entertainment console, last of 3 major systems unveiled
- Skyline-altering project will happen: developer
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- Bridging the gap
- Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Local boy leads Great-West
- New owner for lumber stores
- Skyline-altering project will happen: developer
- She's got entrepreneurial spirit
- US new home sales rise 2.3 per cent in April while median home prices hit record high
- Bell invests in 'TV everywhere'
- Bridgwater site to resemble Osborne Village
- Transcona transformation
- PotashCorp cites confidence in cash flow, increases quarterly dividend 25%
- Bridging the gap
- Young entrepreneurs pitch ideas to investor Warren Buffett, win prizes for their businesses
- New owner for lumber stores
- Ex-'Pegger seeks to grow local businesses
- Bridging the gap
- Developers to unveil plans for bold downtown tower
- Skyline-altering project will happen: developer
- There are lots of I's in 'team'
- More than a new boss
- New downtown tower could be 42 storeys tall: developers
- Viterra plans $20 million capacity upgrade at four Saskatchewan grain terminals
- Creative industries can fuel a city's economic engine
- New owner for lumber stores
- Transcona transformation
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Older and jobless? Resource on hand
- Local boy leads Great-West
- Ex-'Pegger seeks to grow local businesses
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.