Personal Finance

Monday Was the Biggest Online Shopping Day in US History

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Cyber Monday spending went way up this year, with online spending jumping 18% from last year to $1.74 billion.

That total includes purchases made on computers, not mobile devices, but it represents the most online spending recorded for a single day, according to data released by analytics company comScore. Last year, Cyber Monday sales totaled $1.47 billion.

Nearly half (49.2%) of the money spent on Cyber Monday resulted from purchases made on desktop (likely work) computers, which is up 2.1 percentage points from last year.

Online spending from Thanksgiving through Cyber Monday shot up 22% year over year, from $4.33 billion to $5.29 billion, and people are increasingly buying electronics. The product categories with the fastest-growing online-shopping sales are consumer electronics, video game merchandise, home and garden, apparel and accessories, and sport and fitness.

In addition to the surge in spending on Cyber Monday and the four days preceding it, overall online spending in the month leading up to Cyber Monday increased as well. Such spending is up 25% from 2012 (compared with dates Oct. 26 through Nov. 26, Cyber Monday 2012). Looking at online shopping between Nov. 1 and Dec. 3 (2012 vs. 2013), spending increased 8%.

With so much of the holiday spending season remaining, it will be interesting to see if these increases indicate a change in overall spending or just a change in spending patterns. Multiple estimates put 2013 holiday sales up slightly from last year, suggesting people increasingly favor the convenience of online shopping, especially when retailers are pelting them with online promotions.

Image: iStock

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