A Billion Dollars Spent, History Made

A new shopping record has been set. This past Monday, online spending exceeded $1 billion, making Cyber Monday 2010 the most successful online spending day in history, reports WWD.

Gian Fulgoni, the chairman of comScore, the market research company that provided the statistics, noted that although the holiday shopping season has gotten off to a very strong start, the likely cause of such exuberant spending was the result of retailers' "heavier-than-normal promotional and discounting activity."

That said, he anticipates more "billion-dollar spending days" as the holiday shopping season progresses. We're hoping that retailers, encouraged by the strong response to their incredible steals and deals, will continue with similar sorts of sales.

As for how this Cyber Monday compares to last, revenues increased 16 percent, with sales that totaled $887 million last year. The number of buyers grew, but so did the amount each person spent. The average transaction was $60.05 and buyers made an average of 1.90 purchases each during the day.

One last fun fact: The majority of purchases were made at work.

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