Washington, Nov 28 (): Cyber Monday has been the biggest online shopping day in recent years, as workers return to offices and use computers and smartphones to make holiday purchases. And particularly this year’s Cyber Monday is touted to be the biggest online shopping day in history.
Research firm Comscore said consumers would have spent $1.5bn (£0.9bn) on so-called Cyber Monday, up 20% from last year. The online sales on Cyber Monday started with brisk start, sending e-commerce retailers’ shares higher and suggesting strong growth in the holiday shopping season that would continue through December.
Sales on eBay Inc’s online marketplace were particularly strong and Amazon.com Inc continued its rapid holiday shopping season growth, said a data released by e-commerce firm Channel Advisor on early Cyber Monday.
More consumers are using smartphones, tablet computers and laptops to do their shopping this holiday season. Online sales also jumped sharply on so-called Black Friday, which is the day after Thanksgiving.
Amazon.com, Target, Walmart were all promoting Cyber Week specials in addition to deals exclusive to Cyber Monday.
Cyber Monday, its name coined in 2005, quickly gained traction as shoppers took advantage of work computers with faster Internet connections. Cyber Monday is also an easier alternative for people who do not like long lines and chaos that comes with the Black Friday weekend. This season proved to be no different from past Black Friday horror stories.
Jonathan Johnson, president of bargain site Overstock.com. said online spending on Black Friday topped $1 billion for the first time as some shoppers turned to their computers instead of braving the crowds in person and Cyber Monday is “the Super Bowl of online shopping.”
Retailers typically offer big discounts on items ranging from electronics to apparel, but many have now extended these to cover the full weekend. In general, online shopping continues to make gains.