Chicago (IL) – An uncertain future of the economy did not stop U.S. consumers to open their wallets (or at least tapping into their credit card accounts), and go on a shopping spree on Cyber Monday. Comscore believes that the sales volume was 15% higher than in 2007.
The market research firm estimates that consumers spent about $846 million online this Monday, up from $733 million one year earlier. The four-day period between Black Friday and Cyber Monday saw a sales increase of 13%, from $1.9 billion to $2.2 billion. In absolute numbers, the gain was about $240 million in this period and grows to $256 million, if Thanksgiving Day is included.
Cyber Monday 2008 was the second heaviest online spending day on record, surpassed only by Green Monday 2007, which saw spending of $881 million, ComScore said. However, it seems that consumers used the four- or five-day period to catch up on what they had missed in previous weeks: The shopping volume between Nov. 1 and Dec. 1 is down by 2%, from $12.2 billion to $12.0 billion, Comscore said.
“Consumers are clearly responding positively to retailers’ aggressive online discounts. With Cyber Monday promotions beginning in earnest over the Thanksgiving weekend, consumers have finally begun to open their wallets, setting off a streak of four consecutive days of extremely strong growth, and culminating in a Cyber Monday that racked up an impressive $846 million in online spending (…)”, said Comscore chairman Gian Fulgoni in a prepared statement. “This is an extremely encouraging development for retailers and we can but hope that their aggressive discounting has still left room for profits.”