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Cyber Monday online sales jump 15 percent

Stagnant online retail sales perked up over the Thanksgiving weekend, culminating with a 15 percent leap on Cyber Monday that surprised the experts. "Rumors of the death of online shopping have been greatly exaggerated," said Gian Fulgoni, chairman of comScore, who credited aggressive discounting but stuck with his forecast of zero growth in online holiday shopping because of the recession. Online sales were up 12 percent over the five-day Thanksgiving weekend that ended with Cyber Monday sales hitting $846-million, the second-biggest day ever for Web retailing. But that's only a dent in what overall is forecast to be a $470-billion, two-month holiday season for retailers. Even with the Thanksgiving boost, online retail sales are running 2 percent behind last year's pace.

Cyber Monday online sales jump 15 percent 12/03/08 [Last modified: Wednesday, December 3, 2008 7:30pm]
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