Cyber Monday breaks all-time shopping record with $2B

The five day holiday shopping period brought in $6.6 billion this year, a 24% increase from 2013

Financial trends and news by Steven Loeb
December 3, 2014
Short URL: http://vator.tv/n/3ac0

I'll admit it: I bought things on Black Friday this year. No, I didn't go any beat anyone over the head for a new XBox or punch someone in the face to save $5 on a pair of shoes, but I did buy things online. And I also bought gifts on Cyber Monday too! In fact, I saved $50 on gifts for my girlfriend's mother. And I loved it!

If any of you are aghast at this news, that I would participate in such a blatant and crass commercial holiday, I suggest you look in the mirror. Because considering the numbers that have come, chances are you did too.

Not only did both Thanksgiving Day and Black Friday bring in over $1 billion each, now we have learned that another day has easily topped both of them.

There was a total of $2.038 billion spent online through desktops alone on Cyber Monday this year, for a 17% gain from a year ago, according to data released by comScore on Tuesday. That total is a record breaker: it is the largest singly shopping day in history and the first ever to break the $2 billion marker.

And that wasn't the only notable stat: during the weekend after Thanksgiving and Black Friday, the following Saturday saw its first $1 billion day as well. Even Sunday near reached the mark, though it fell just short (how much you want to be bet it makes it next year?) Combined, the two days saw a total of $2.012 billion, an increase of 26% from the same weekend in 2013.

The entire five days raked in a combined total of $6.6 billion, a 24% year-to-year increase.

Cyber Monday has been expected to see fewer overall shoppers this year, with 126.9 million down from 131.6 million last year, according to the National Retail Federation. It is unknown if that prediction was correct or not at this time; if it was then that would indicate a much larger average order size than in previous years.  

"With more than $2 billion in online buying on Cyber Monday to cap an exceptionally strong 5-day period since Thanksgiving, the online holiday shopping season is clearly going very well at the moment and is currently running ahead of forecast," comScore chairman emeritus Gian Fulgoni said in a statement.

"Any notion that Cyber Monday is declining in importance is really unfounded, as it continues to post new historical highs and reflects the ongoing strength of online this holiday season. Varying reports have also indicated weakness in the consumer economy due to flagging brick-and-mortar sales over the holiday weekend, but what we may really be seeing is an accelerating shift to online buying as mobile phones spur increased showrooming activity. The data we're seeing suggest it may be more a change in shopping behavior than a lack of consumer demand."

If you're one of those people who hates the commercialization of the holidays, and the any celebration of people spending more and more money on this kind of stuff, there is good news: I likely won't have to write another story like this for another three weeks or so. Happy holidays!

(Image source: ecyclebest.com)

Related news