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BizReport : Ecommerce : December 05, 2008

Discounts pushed Cyber Monday buying

Ecommerce sales on Cyber Monday were pushed by discount offers according to a new report from comScore. According to the company, Cyber Monday turning into the second highest online shopping day ever, reaching nearly $850 million. Year over year, shopping increased 15% but money spent per shopper actually declined.

by Kristina Knight

comscore.gifShoppers spent an average of $91 online this year versus nearly $97 in 2007. Despite the increase, though, there are signs that etailers need to do more to get shoppers in their online doors.

Both the number of transactions per consumer (9% decrease) and dollars spent per buyer (5% decline) dropped year over year, indicators that consumers are not buying as often or as much in 2008. It is also an indicator that consumers are shopping for price as much as for product.

"Because of the extremely attractive prices offered by a myriad of retailers, it shouldn't be surprising that nearly two million more consumers purchased online this Cyber Monday compared to last. But, because of their reduced spending power it's also evident that those who did buy were unable or unwilling to spend as much per person as we saw last year," said comScore chairman Gian Fulgoni. "That said, it's clear that Cyber Monday has become a well publicized event that has fundamentally captured consumers' attention and a meaningful share of their wallets."

As in year's past, consumers are still shopping from work. Shopping from work increased by 50% on Cyber Monday.

Tags: ecommerce, holiday sales, online shopping

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