Online sales on Cyber Monday 33% up

Online sales on Cyber Monday were up 33% from a year earlier, and eclipsed last year's record of $1.03 billion, according to Coremetrics. Overall, the average online order value was $198.26, up from $193.24, for an increase of 2.6%.

"Retailers once again brought out discounts and special offers, but it also felt like there was pent-up demand after Black Friday weekend," said John Squire, chief strategy officer at Coremetrics, a data arm of International Business Machines Corp. As reported by the Washington Post, the sale push paid off for online retailers this year, according to the latest figures on Cyber Monday sales. IBM’s Benchmark research firm found that online spending was 33 percent higher than the same period last year and was 29.3 percent higher than Black Friday 2011. On average, consumers spent an average of $198.26 per order, up about $5 from Cyber Monday 2010.

According to MarketWatch, Coremetrics does not disclose actual sales figures, but Squire did say the $1.03 billion was surpassed at 10 p.m., EST, Monday. Of the sales performance, mobile users made up 6.6% of all buying, up from 2.3% last year. "There is a convenience factor, whether it be iPhone, iPad or Android," Squire said, "And retailers have really invested in their sites to give mobile users a more compelling experience."

Retailers are expected to post $1.2 billion in online sales this Cyber Monday, a record amount and only the second time a billion dollars in online commerce has been done in one day. The estimate, by online tracker comScore, compares with last year's $1.03 billion and shows the power that Cyber Monday carries with holiday shoppers.

Cyber Monday "is increasing in importance, with virtually all retailers getting involved and more consumers knowing about it as a day for big discounts," said comScore analyst Andrew Lipsman. "And we are seeing some strength in retail spending as savings rates have gone up, giving consumers more confidence about spending during their holiday season."

Based on online traffic patterns, shopping comparison site PriceGrabber.com expected searches on its site for retail products to increase 15% from last year.

In the same vein, sales for the four days beginning with Thanksgiving grew 16.4%, according to the National Retail Federation, which surveyed 3,826 people. The retail trade group estimated that consumers spent an average of $398.62 on Black Friday weekend, up 9.1% from last year. Of that, $150.53, or 38%, came from online sales.

Now that Cyber Monday has passed, retailers can expect the usual lull until much closer to Christmas, analysts said. "Consumers [will] delay purchases and wait for promotional activity to increase," said for MarketWatch Jennifer Davis, retail analyst at Lazard Capital Markets.

Angela González-Rodríguez