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Internet Travel Monitor - Technology Bits
December 5, 2007
Highest Spend Ever For Cyber Monday
NEW YORK, NY – When workers went to the office. And shopped.
US online shoppers spent $733 million on the Monday after Thanksgiving, aka Cyber Monday, according to comScore data.
comScore said that was up more than 20% over 2006, and 84% over the average daily online spending totals during the preceding four weeks.
"While that makes it the heaviest online shopping day on record, we expect that a number of individual shopping days during the coming weeks will surpass the Cyber Monday total, with some days potentially surpassing $800 million," said comScore Chairman Gian Fulgoni, in a statement.
But while the number of online buyers increased by 38% versus Cyber Monday 2006, average per capita spending fell 12%. comScore attributed the drop to deep discounting and new Cyber Monday buyers who spent less than returning buyers.
Lower per-capita spending could have long-term implications, according to Jeffrey Grau, senior analyst at eMarketer.
"While retailers succeeded in making Cyber Monday a big online shopping day, the deep discounts they offered might hurt their bottom line in the long run," Mr. Grau said. "Plus they are training consumers to never pay full price, but instead wait for big discounts before making purchases."
comScore said that six in 10 dollars spent online on Cyber Monday came from work computers.
Web traffic was up more than one-quarter on Cyber Monday 2007 versus 2006, according to Hitwise.
The company said that Amazon.com was the most visited retail Web site on Cyber Monday, accounting for 10% of all visits among the top 100 retail Web sites.
Consumers were slightly more satisfied with their shopping this Cyber Monday than in 2006, according to Foresee Results.
Foresee said that integrating retail Web sites with brick-and-mortar stores created a better shopping experience for consumers.
"Retailers have figured out a way to use the online visit to drive sales both online and offline, which really maximizes the value of the Web site for a multichannel retailer," said Larry Freed, CEO of Foresee, in a statement.
Copyright 2007 eMarketer Inc. All rights
reserved. From http://www.emarketer.com.
To view the Internet Travel Monitor Archive, click http://www.tripinfo.com/ITM/index.html.
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