Ecommerce sales continue to escalate after Cyber Monday
Cyber Monday established a new single-day online spending record and Black Friday sales ascended well beyond last year's totals, but consumers didn't stop there as ecommerce revenues continue to rise this holiday season.
According to a recent comScore report, online holiday spending totaled $5.96 billion during the week of Cyber Monday, a 15 percent increase from last year, while ecommerce sales are up 15 percent for the first 32 days of the holiday shopping season.
After ecommerce businesses reeled in nearly $1.3 billion on Cyber Monday to shatter the 24-hour online sale record, shoppers spent more than $1.1 billion Tuesday and about $1 billion Wednesday, the report said.
"As the deals from this week expire, it will be important to see the degree to which consumers return to the same retailers to continue their holiday shopping, thereby helping improve retailers' profit margins, or if we experience a pullback in consumer spending - which has occurred in previous years - before promotional offers and spending intensity pick back up in earnest around mid-December," said comScore chairman Gian Fulgoni.
The rise in online holiday sales stresses the importance of businesses having a secure, PCI compliant ecommerce website. According to a recent survey by Harris Interactive, 84 percent of consumers are at least somewhat concerned about disclosing personal information when shopping online.