UPDATED 11:10 EST / NOVEMBER 28 2011

Cyber Monday Spending Up, Surpasses $1 Billion

Black Friday gets all of the attention for kicking off a holiday season-long shopping spree, but analysts say this year’s Cyber Monday activity will likely break records. A shop.org survey reveals nearly 76 million Americans plan to take a break from work Monday to do some online shopping. Last year, Cyber Monday generated a record $1 billion in sales. Analysts estimate sales will hit $1.2 billion this year.

Adding up to a 16 percent gain in sales over the same period last year, Monday’s cyber shopping spree was the heaviest online spending day in history, according to ComScore, and the first to cross the billion-dollar mark. Overall, the start of the holiday season has brought plenty of good cheer to online retailers.  More than $13.5 billion was spent online from November 1 to 29, a gain of 13 percent from last year.

The growth in Cyber Monday sales was driven more by higher spending per person than by an increase in shoppers. On average, consumers spent 12 percent more than they did last year, while the number of shoppers rose just 4 percent to 9 million. But promotions and discounts on the part of retailers have also helped cook up holiday sales so far.

“The online holiday shopping season has clearly gotten off to a very strong start, which is welcome news,” ComScore Chairman Gian Fulgoni said in a statement.

“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.”

Moreover, online merchandising king Amazon is offering stocking-stuffer “Twilight” DVDs for just $6.99, and has slashed $100 off the price of a “Holiday Bundle” Microsoft Xbox 360 250GB game system.

Also in electronics, New Yorkers who love Walmart can find deals like an iPod Touch for $189 with free shipping. The big box retailers are also selling 20-inch kids’ bikes for just $44 — some assembly required.

Even bargain-resistant Apple is offering free shipping on purchases over $50. Many retailers require “coupon codes,” but they’re easily found with a little online sleuthing.

And just as US consumers are increasingly agnostic about shopping online and in stores, they also increasingly access the internet and shop on mobile devices as part of their non-linear purchase process.


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