Yesterday, while shoppers were clogging the internet with holiday transaction, reporters at CNN were waxing on about how Cyber Monday is a myth. More to the point, they said it was a marketing ploy (gasp!) and is erroneously labeled “the biggest online shopping day of the year.”
It might not turn out to be the biggest day, but retailers aren’t complaining this morning after seeing a 19.4% increase over last year. The numbers come from Coremetrics, an IBM Company’s third annual Cyber Monday Benchmark Report and here’s how it adds up.
Cyber Monday 2010 Compared to Black Friday 2010
- Consumer Spending Increases: Online sales were up 31.1 percent, with consumers pushing the average order value (AOV) up from $190.80 to $194.89 for an increase of 2.1 percent.