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eCommerce sales up 15 percent on Cyber Monday

Dec. 5, 2008

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For the most part, eCommerce sales were slightly higher this Cyber Monday. However, this stronger-than-expected increase in Internet sales couldn't exactly compensate for a mediocre month of November.

Nielsen Online reported a ten percent increase in Internet traffic to eCommerce shopping sites on Cyber Monday. This was fueled by beauty items, toys and video games.

Ken Cassar, v.p. of industry insights for Nielsen Online said in a statement that he expects Monday, Dec. 15 to be the peak day for online shopping traffic.

For its part, Web research company comScore said that e-commerce sales jumped fifteen percent to US $846 million on Cyber Monday.

Three years ago, the National Retail Federation named "Cyber Monday" to describe the surge in online spending when customers returned to work after Thanksgiving and shopped from their desks.

The four-day period from Friday through Monday saw online spending increase 12.9 percent, as both weekend days and Monday all posted double-digit gains, according to comScore.

Overall, from Nov. 1 through Dec. 1, eCommerce spending dropped two percent. comScore said that the numbers are encouraging. It forecasts online spending for the holidays will be unchanged from 2007, when sales jumped nineteen percent from 2006' levels.

"This is a positive development for online retailers, and we can only hope that their aggressive discounting still leaves some room for profits," said a comScore spokesperson.

"The increased Internet traffic reported by Nielsen was good for online retailer as this is seen as a close correlation between that data and the online retailing giant", said Gene Munster, research analyst at Piper Jaffray.

Munster also said that while "Cyber Monday appears to have been good for Amazon, it doesn't change his belief that the online consumer will still be weak in the December quarter."

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Source: comScore.

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