News24

Cyber Monday sales top $1bn

2010-12-01 21:23

New york - Americans jumped on deals and promotions offered online on Cyber Monday, spending $1bn and making it the busiest online shopping day ever, according to new data.

Research firm comScore Inc says revenue rose 16% from a year ago to $1.03bn on the Monday after Thanksgiving. Since the beginning of November, online sales are up 13% to $13.55bn.

The improvement is welcome for retailers hoping that Americans start spending more freely. But shoppers are still holding out for bargains and spending cautiously as unemployment remains high.

According to ShopperTrak figures, revenue at brick-and-mortar stores was flat over the weekend following Thanksgiving, but traffic rose 2.8%.

A clearer picture of spending will come on Thursday when the nation's retailers release revenue figures for November.