Monday, December 03, 2007

Cyber Monday Sets One Day Spending Record

From Dr. Kalter:
Dear Students,
As specialists in online marketing, we sometimes take it for granted that this aspect of marketing is experiencing dramatic growth. From the Center for Media Research, here are the newest figures on online consumer spending in the U.S. I recommend using this link to read the data on Cyber Monday, including the top sites visited by consumers.
Here is the link:

Research Brief for Monday, December 3, 2007:
http://www.centerformediaresearch.com/cfmr_brief.cfm?fnl=071203

--MK


Dr. Marjorie Kalter
Academic Program Director
Clinical Professor
Master of Science Program in Direct and Interactive Marketing
New York University
11 West 42nd Street
Suite 431
New York, New York 10036
1-212-992-3207
mk99@nyu.edu



According to comScore, Inc., more than $10.7 billion has been spent online during the season-to-date, marking a 17-percent gain versus the corresponding days last year. Cyber Monday saw $733 million in online spending, representing a 21-percent increase versus last year and an 84-percent jump from the average daily online spending totals during the preceding four weeks.

Non-Travel (Retail) Spending 2007 Holiday Season To Date vs. Corresponding Days* in 2006 Total U.S. - Home/Work/University Locations (Billion $)

 

2006

 2007

Pct Change

November 1 - 26 

$9.14

$10.74

17%

Thanksgiving Day (November 22)

$0.21

$0.27

29%

"Black Friday" (November 23)

$0.43

$0.53

22%

"Cyber Monday" (November 26)

$0.61

$0.73

21%

Source: comScore, Inc., November 2007

* Corresponding Shopping Days, Not Calendar Days

 comScore Chairman, Gian Fulgoni, said "Cyber Monday..., represent(s) the first significant spike in online holiday spending activity... with $733 million in sales, the first time a single day of online retail spending has broken the $700 million threshold."

And, comparing Cyber Monday to Black Friday, Nielsen Online reports that combined home & work traffic to the Holiday e-Shopping Index reached 32.5 million unique visitors on Cyber Monday. This was a 13% increase from Black Friday's combined home & work traffic of 28.8 million This is a 10% increase from Cyber Monday 2006.

Some other notable findings from the comScore report for Cyber Monday 2007 include:

  • The number of online buyers was up 38 percent compared to Cyber Monday 2006, while the average dollars spent per buyer was down 12 percent. The decline in dollars per buyer may be due to two factors -- deeper and broader price discounts offered by online merchants this year and the fact that "new Cyber Monday buyers" tended to spend less online than returning buyers.
  • 6 percent of the Internet users on Cyber Monday made an online purchase
  • 44 percent of Internet users on Cyber Monday shopped online (i.e. visited an online retail site or used a comparison shopping engine)
  • 60 percent of dollars spent online on Cyber Monday came from work computers, with the balance coming from home and university computers

 On Cyber Monday most of the top online retail sites experienced significant gains in the number of visitors. Amazon Sites saw the most visitors on Cyber Monday 2007, up 26 percent gain versus the same day last year. Six out of the top ten retail sites saw their visitors more than double compared to the daily average over the four weeks preceding Cyber Monday.

Top 10 Retail Sites (Ranked By Visitors) on Cyber Monday Total U.S.  Home/Work/University Locations

 

Retail Site Percent Change vs. Average Daily Visitors during 4 Weeks Preceding Cyber Monday

Amazon Sites

50%

Wal-Mart

103%

Target Corporation

86%

Dell

106%

Best Buy Sites

110%

Yahoo! Shopping

85%

Apple Inc.

5%

Overstock.com

139%

Circuit City Stores, Inc.

136%

MSN Shopping

261%

Source: comScore, Inc, November 2007

 

Online Non-Travel (Retail) Holiday Consumer Spending Total U.S. Home/Work/University Locations Billion $

 

2006

2007

Pct Change

January - October

$77.5

$93.6

21%

Holiday Season (Nov-Dec)

$24.6

$29.5*

20%*

 Source: comScore, Inc., November 2007   *comScore forecast

For more information, please visit here.

2 Comments:

Cyber Monday said...

i love cyber monday. i love doing all my shopping onine in one day!!! oh yea.
jay
cyber monday

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