This past Monday was Cyber Monday, the online equivalent of Black Friday. Although we just officially learned that we have been in a recession since December of 2007 Comscore reported that Cyber Monday saw an increase of 15% over 2007 with $846 million in online spend. Comscore also noted that,
“The four-day period from Black Friday through Cyber Monday saw e-commerce spending jump 13 percent as both weekend days and Monday all achieved double-digit gains.”
This is great news for online e-commerce as e-tailers enticed visitors online with large discounts, free shipping, and other incentives. Most surpring was that Netbooks dominated the Top 10 list from Amazon, offering consumers relatively inexpensive laptops to check email, browse the web, etc. We’ll continue to watch online spend as the holiday season continues, but we’re optimistic that as consumers cut back they’ll turn to discount websites such as Target and Amazon which often offer cheaper prices than traditional B&M businesses.