The Cyber Monday numbers are in, and unfortunately, they aren’t exactly what we all hoped for. According to the New York Times, Cyber Monday had only a 1% increase this year over last. This number came as a surprise as total transactions were up 14% over last year.
So why the small increase? It all comes down to the order size. Consumers spent, on average, $7.19 less per transaction this year. In 2007 consumers averaged $58.81 per transaction. This year, that number fell to $51.62.
These numbers were calculated by Chase Paymentech’s Cyber Holiday Pulse Index, in which they surveyed 25 of the largest 150 Internet payment processing networks. The decrease in average spend is likely the result or an increased amount of discounts available to consumers this year.
Let’s hope that consumers aren’t as frugal the rest of the month. The biggest online spending day of the year, however, is still coming with “Green Monday” most likely a week from today.