After all the hustle and bustle of Cyber Monday, or the 29th of November, Internet marketing research company, comScore, released figures showing that the ecommerce “holiday” saw online spending reach an all-time high of $1.028 billion, an increase of 16% over last year. This also makes this year’s Cyber Monday—a neologism first coined in 2005—the most lucrative ever, reaching billion-dollar figures for the first time.
Other significant increases during Cyber Monday include a jump in overall online transactions, up by 17.1 million from 16.2 million in 2009, and an increase in spending for every single transaction, from $54.83 in 2009 to $60.05 this year.
Though a US term and phenomenon, the attached graph from the UK Hitwise group points to a similar trend in UK online retail traffic showing similar trends and annual spikes. Clearly there are parallels with other discretionary spend product is other markets like automotive performance.
comScore also provided insights on where online shoppers prefer to do their shopping. The report indicates that close to half (48.9%) of Cyber Monday’s shoppers made their transactions from work and office computers, while the remaining majority (45.4%) bought goods and other items from their homes. Rounding them off are the 5.8% of international shoppers who availed of the discounts offered by US websites.
And with Christmas and New Year’s still to come, Enform joins other experts in expecting these numbers to grow to record-breaking numbers. Indeed, with the Australian trend toward online retail in place of bricks-n-mortar stores for imported products, this year is going to be an exciting one for online business and it looks to stay that way for 2011.