For the first time ever, U.S. consumers spent more than $2 billion online in a single day, according to an analysis from comScore. And that day was Cyber Monday, Dec. 1, the Monday after Thanksgiving. And that just counts purchases made on desktop computers, not sales via tablets or smartphones.
Cyber Monday web sales via desktop computers reached $2.038 billion—an increase of 17% over the same day in 2013. Consumers spent 24% more via desktop computers over the five-day period between Thanksgiving and Cyber Monday.
“With more than $2 billion in online buying on Cyber Monday to cap an exceptionally strong five-day period since Thanksgiving, the online holiday shopping season is clearly going very well at the moment and is currently running ahead of forecast,” says comScore chairman emeritus Gian Fulgoni. “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.”
ComScore also found:
- Desktop sales increased 15% for the period Nov. 1-Dec. 1
- Desktop sales increased 32% on Thanksgiving Day
- Desktop sales increased 26% on Black Friday
- Desktop sales increased 26% for the Saturday and Sunday following Thanksgiving
ComScore does not include mobile shopping figures in its initial reports, though a spokesman says comScore will release mobile data as the holiday season progresses. Because sales via mobile devices are growing more quickly than sales via computers the addition of the mobile data typically adds 1-2% to comScore’s desktop growth estimates.
Youssef Squali, an analyst for investment firm Cantor Fitzgerald, noted that the Cyber Monday growth was slightly slower than sales increases earlier on the holiday weekend, “reflecting demand pull-forward, in our view, driven by early and aggressive promotions.” He says the overall results bode well for online retailers. “Looking at the entire Thanksgiving five-day period, however, multiple data points indicate a very positive trend, which if sustained could yield results in excess of our mid-teens growth expectation for the entire holiday season,” he wrote in a note to investors. “It’s obviously too early to call the quarter for our e-commerce group, given that there are still 22 days until Christmas; that said, the healthy online shopping trend so far is keeping us optimistic.”
Overstock.com Inc., No. 31 in the Internet Retailer Top 500 Guide, also hit record sales on Cyber Monday. Web sales on Cyber Monday increased 24% over last year and set a record sales day for the online-only retailer. Thanksgiving Day had the biggest year-over-year jump in sales, with a 38% increase over 2013.
“Our loyal customer base and reputation as one of the most trusted brands, on or offline, have made this holiday weekend a great start to our busiest time of year,” says Overstock president Stormy Simon. “People have really learned that the best place to find deals during the holidays is online.”
Furniture proved to be the best-performing category for Overstock, with a 37% sales increase from Thanksgiving Day through Cyber Monday and a 43% sales increase on Cyber Monday alone. That sales growth helped the sales in the home and garden category, which includes furniture, jump 37% in the five-day period following Thanksgiving and 36% on Cyber Monday. The average sales growth for home goods on Cyber Monday was 27.5%, according to data from IBM.
New sign-ups for Overstock’s loyalty program, Club O, increased 125% in the five-day period following Thanksgiving compared to the same period in 2013. Club O members get free shipping, and 5%-20% in rewards for purchases. Membership usually costs $19.95 a year, but Overstock is running a deal for $4.95 a year through Dec. 4.
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