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Cyber Monday Sales Better Than Expected

Results are already pouring in from yesterday’s Cyber Monday sales.  While sales were expected to fall compared to last year, they actually grew 13.7%, a significant increase considering the current economy. 

The report comes from Coremetrics Inc, a web analyst company based out of California.  The report also indicated that people spent more money for online sales Monday, compared to Black Friday.

Cyber Monday continued the momentum set by Black Friday.  Sales were up 24.1 percent compared to Black Friday 2009.

Consumers spent more per online order ($180.03 versus $170.19 for an increase of 5.8 percent) compared to Black Friday 2009.

Sales were up 13.7 percent compared to Cyber Monday 2008

The average dollar amount consumers spent per online order rose 38.2 percent from Cyber Monday 2008 ($180.03 versus $130.24), led by apparel retailers.

Consumers bought nearly 10 percent more items per order on Cyber Monday 2009 compared to Black Friday 2009 and nearly 30 percent more compared to Cyber Monday 2008.

Consumer shopping hit its peak from 9-10 a.m. PST, but maintained stronger momentum throughout the day than on Cyber Monday 2008.

While Black Friday sales also did exceptionally well, many are wondering if this holiday season is a sign that the economy is getting stronger.  While online shopping is becoming more popular and companies are offering exclusive deals on sites like Facebook and Twitter, this really could be a good sign.  Only time will tell.  Online retailers are expected to continue offering deals throughout the next few weeks gearing up for Christmas Day.