Cyber Monday Online Spending Surpasses Black Friday Online
The U.S. online retail sector delivered strong growth on Cyber Monday 2010 compared to the same period last year, according to findings by IBM. IBM’s findings expand on the company’s earlier report that Black Friday 2010 delivered double-digit growth over 2009, and its forecast that in-store sales of consumer electronics and appliances in U.S. retail stores would get an early start this year, with consumers spending a larger-than-usual share in November.
Cyber Monday 2010 Compared to Black Friday 2010
Consumer Spending Increases: Online sales were up 31.1 percent, with consumers pushing the average order value (AOV) up from $190.80 to $194.89 for an increase of 2.1 percent.
Luxury Goods Continue Comeback: Jewelry retailers reported a significant jump of 60.3 percent in sales.
Social Shopping: The growing trend of consumers using their networks on social sites for information about deals and inventory levels continued on Cyber Monday. While the percentage of visitors arriving from social network sites is fairly small relative to all online visitors — nearly 1 percent — it is gaining momentum, with Facebook dominating the space.
Mobile Shopping: Consumers continue to use mobile as a shopping tool. On Cyber Monday, 3.9 percent of people visited a retailer’s site using a mobile device.
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