Cyber Monday: Work ethic is no match for shoppers' zeal for a deal (+video)
Black Friday just set a record for e-commerce in a single day: $1 billion. But deal-hungry digital shoppers, despite being back at work, were pushing the tally for Cyber Monday higher still.
Cyber Monday may have begun as the kid brother to Black Friday, but it sure has grown up. The day’s online sales are expected to ring in near $1.5 billion, according to the online analysis firm comScore, topping the one-day record for e-commerce of $1 billion rung up the day after Thanksgiving.
“What this Cyber Monday tells us more than anything is that consumers are ready to buy no matter where they are or what they are doing if that is the moment that the best deal shows up,” says New York-based Kevin Regan, senior managing director of the management consulting firm FTI Consulting.
The upstart shopping day began its jog to the head of the class last year when Cyber Monday was the busiest shopping day of the year, according to Experian’s general manager of global market research, Bill Tancer. Online traffic on this first-day-back-to-work grew from 138 million online visits in 2010 to 177 million total US visits to the top 500 retail sites in 2011, a 29 percent increase, notes Mr. Lancer.