'Cyber Monday' Sales Show Strength
Online retailers experienced a sales surge Monday, capping off a holiday shopping week in which more Americans than ever decided to skip the mall and buy on the Web.
Early estimates indicated overall sales gains of about 20% from a year earlier for "Cyber Monday," the nickname for the Monday after Thanksgiving.
..That comes on top of strong online sales growth on Thanksgiving Day and Black Friday. For those two days combined, comScore Inc. reported that online shoppers spent about $1.1 billion, up more than 15% from $913 million a year earlier.
Online shopping is on pace to take even more share away from the rest of American retail. Through the four-day Thanksgiving weekend, a survey by the National Retail Federation reported that traffic to stores and websites was up 8.7%, with the average shopper spending 6.4% more than a year ago.
Driving activity were Cyber Monday discounts of as much as 60% on sites such as Toysrus.com, as well as extensive free shipping offers.