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Cyber Monday Sets Online Spending Record: Comscore (SCOR)

 November 28, 2012 10:24 AM
 


(By Balaseshan) Cyber Monday spending jumped 17% to $1.46 billion, ranking as heaviest U.S. online spending day in history, according to a finding by comScore Inc. (NASDAQ: SCOR).

The company reported holiday season U.S. retail e-commerce spending for the first 26 days of the November-December 2012 holiday season. For the holiday season-to-date, $16.4 billion has been spent online, marking a 16% increase versus the corresponding days last year.

comScore said Cyber Monday represented the heaviest online spending day in history and the second day this season (in addition to Black Friday) to surpass $1 billion in sales.

[Related -U.S. Retail E-Commerce Sales Rise 13 Pct In Q1]

Cyber Monday saw Digital Content & Subscriptions continue to set the pace among product categories with a year-over-year growth rate of 28%.

Consumer Electronics, buoyed by gains in smartphone sales, ranked second at 24%, while tablet sales helped the Computer Hardware category post a 22% growth rate. Video Games, Consoles & Accessories (up 18%) and Jewelry & Watches (up 17%) rounded out the top five.

Nearly half of dollars spent online at U.S. websites originated from work computers (47.1%), down slightly from last year. Buying from home comprised the majority of the remaining share (47.2%) while buying at U.S. websites from international locations accounted for 5.7% of sales.

"Despite some news reports suggesting that Cyber Monday might be declining in importance, the day has once again set an online spending record at nearly $1.5 billion. However, it is also clear that the holiday promotional period has begun even earlier this year, with strong online sales occurring on Thanksgiving Day and Black Friday," said comScore chairman Gian Fulgoni.

[Related -U.S. Retail E-Commerce Sales Top $50B In Q4]

SCOR is trading down 1.90% at $13.43 on Wednesday. The stock has been trading between $11.30 and $23.93 for the past 52 weeks.

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