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Category: Money

Cyber Monday Spending Reaches $1 Billion

Written on December 02, 2010 by R. Depp

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“The online holiday shopping season has clearly gotten off to a very strong start, which is welcome news.”---Gian Fulgoni, comScore chairman

If you are one of the many online shoppers who made purchases last Monday, then congratulate yourself for helping set the record for the biggest shopping event in online history. According to the statistics gathered by comScore,  about $1.3 billion were spent on Monday and it was 16 percent higher than the previous year.

Gian Fulgoni, comScore chairman said in a press release, “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.”

All in all, there was 13 percent earnings from the holiday weekend. This is a breath of fresh air for merchants which were affected by the recent recession. On the average, a person spent $114.24 this past Monday.

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