Cyber Monday sales are up 14% from last year with an additional increase of 30% more items per purchase. In the same research, done by Coremetrics, they also show a 10% increase from Black Friday to Cyber Monday.
Shopping online provides an easy way to compare prices and help the consumer find the best deals possible. As we head into a holiday season marked by the continued recession saving money is the name of the game.
Online jewelers and clothing retailers are experiencing the biggest boom from cyber Monday. Department stores are experiencing a 33% growth of website traffic, while their order volume dropped 10%.
In North America alone, 4.3 million consumers per minute visited a shopping website, and that number grew up to 5.1 million by the evening, said online tracking firm Akamai.
Will Cyber Monday ever replace Black Friday? Probably not. Cyber Monday is still seen as a figurative start date for the holiday online shopping season. The busiest online shopping day tends to land on the last day for shipping guaranteed before Christmas.
But as retailers offer deeper discounts on merchandise online, and more people seek to be frugal throughout the holiday season online shopping will continue to grow.
The increased reliance on using the internet to shop also raises key security questions. The significant rise in cyber crime in the past few years reflects some of the hazards related to online shopping. Criminals continue to become more sophisticated in their tactics, including producing fake website to capture information.
When shopping this holiday season, it is important to utilize good cyber hygiene to avoid becoming the next cyber crime victim.