Americans go Credit Card Crazy on Cyber Monday
29 November 2007
Leading Internet industry tracker comScore released an update on the mammoth credit card spending by American's in the lead up to Christmas. This can only be described as 'A holiday season bonanza,' with e-commerce spending hitting an all time high on Monday when $733 million was spent in online shopping.
"Cyber Monday is an important day during the online holiday shopping season, representing the first significant spike in online holiday spending activity," said comScore Chairman Gian Fulgoni.
"Cyber Monday once again set a record with $733 million in sales, the first time a single day of online retail spending has broken the $700 million threshold."
"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," he added.
- Figures released by Comscore showed that 6% of Internet users made a purchase online.
- The number of buyers online rose 38% on last years corresponding figures. This is hardly surprising when you consider that 44% of Internet users visited an online retail store.
- Now what is surprising is that 60% of money was spent by people accessing a work computer.
Cyber Monday saw most of the top online retail web sites record unbelievably high traffic volume. In many cases the sites saw an increase in excess of 100% more visitors on their web sites than on the same day last year.
Some of the large retail sites included Wal-Mart 103%, Dell 106%, Best Buy 110%, Circuit City 136%, and Overstock.com 139% while
The MSN Shopping website which is operated by Microsoft, kicked the biggest goal of the day with an incredible rise of 261% while Yahoo Shopping had an 85% increase in visitors.
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