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Online Sales Surge 26% on Cyber Monday

November 28, 2007 by david · Leave a Comment 

“Cyber Monday” (the first Monday after Thanksgiving) was a success for retailers on two fronts: traffic and sales, according to two Internet industry analyst reports. Traffic on retail sites rose 26% on Cyber Monday compared to the same day last year, Web site metrics company Hitwise found in its survey, while comScore reported that Cyber Monday sales reached $733 million this year. The day is referred to as Cyber Monday because of a sharp increase in online shopping that day.

I haven’t heard it mentioned anywhere else yet, but I’m sure the recent reports about the FBI’s concerns over terrorist attacks at U.S. malls this holiday season will cause more people to purchase at least some of their gifts online this season. Add to this the higher cost of gasoline and the concerns about global warming and you have some good reasons for ordering online from the comfort of your chair. Even the last of the holdouts concerned about putting their credit card information online might succumb to the ease of doing business online this holiday season.

What this means for traditional brick and mortar stores long term is not clear, but for online retailers it’s very good news. The more people order online and have good experiences the more likely they will be to continue moving all of the purchases online. This will continue to present new opportunities to current dot com businesses and entrepreneurs of tomorrow.

dot com on…

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