By Lisa Johnston
New products on display at the American International Toy Fair, held in N
RESTON, VA. – Online sales soared 17 percent on Cyber Monday (Nov. 26) to $1.5 billion, marking an all-time, one-day high for the channel.
According to market research firm ComScore, CE contributed to the bounty as the second-largest gainer of the day, with sales up 24 percent year over year, trailing only digital content and subscriptions (up 28 percent).
Other top-growing categories on Cyber Monday included computer hardware, up 22 percent, and video game hardware and software, up 18 percent.
Spending by location was split evenly between home and work at 47 percent each, with the latter falling 3 percent from last year, ComScore said. An- other 6 percent of sales originated overseas.
Monday’s tally was greater than the two-day haul over the holiday weekend (Nov. 24-25), when online sales hit $1.2 billion, a 15 percent increase, and ex- ceeded Black Friday (Nov. 23), when sales rose 28 percent to $1.04 billion.
Thanksgiving Day showed the greatest sales growth, with online spending up 32 percent to $633 million.
The ComScore data jibes with reports from Walmart.com, which labeled Cyber Monday its best sales day ever, and online sales optimization resource ChannelAdvisor, which pegged eBay’s and Amazon.com’s comp gains at 55.2 percent and 42.2 percent, respectively.
Amazon noted that Cyber Monday was the big- gest day ever for Kindle sales worldwide, while Best Buy told the Minneapolis StarTribune that its e-commerce sales “broke records” on Thanksgiving and Black Friday.
The term Cyber Monday was coined in 2005 by Shop.org, an industry trade association, to refer to the significant jump in e-commerce spending that occurred as consumers returned to work after the Thanksgiving holiday weekend, where high-speed Internet access was more accessible.
“At the time and for several years afterward, Cyber Monday was often misconstrued as the heaviest online spending day of the year, when in fact it barely cracked the top 10 days of the season,” noted ComScore chairman Gian Fulgoni. “However, with the passage of time, the day grew in importance as a result of an increasing number of retailers offering very attractive deals on the day and extensive digital media coverage making sure that consumers were aware of them. As a result, Cyber Monday has assumed the mantle of top online spending day for the past two years — a trend we expect to hold once again in 2012.”*
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.