Buyers have set record figures for spending on Cyber Monday, with a total of $733 million being spent online this year. The figure is up 21% from last year on a day which traditionally kick-starts holiday spending online.
Cyber Monday is an important day for online retailers, representing the first spike in sales for online shopping these holidays. Following the trend of recent years, Cyber Monday spend again trumped 2006 sales. The year on year growth of online holiday spending can be seen in the graph below:
According to comScore research, among the biggest traffic winners were Wal-Mart, MSN Shopping and Best Buy who posted significant gains on the day. Listed as the top 10 most trafficked sites on Cyber Monday, Wal-Mart and Best Buy posted 103 and 106 per cent increases receptively for the number of visitors on the day. MSN Shopping also surprised many analysts, posting a 261% increase in traffic on Cyber Monday.
If you missed out on Cyber Monday, don’t panic – the holiday sales rush continues right up to the end of this year. If you want to make the most of it, consider paid search advertising for instant traffic results.