Cyber Monday Sales UP!

Posted on November 27, 2007 | Permalink

By Lane Casteix

"Cyber Monday" is a term coined by Shop.org back in 2005 when online retailers noticed a spike in traffic on the Monday after Thanksgiving. It was assumed this was because of customers shopping when they got back at work on Monday where they often had faster connections to the internet.

That trend has continued as sales this year came in about $10.3 billion, which is up 8.3% from 2006. The increase came as something of a shock, as it was expected to be up no more than 4% or 5%! Traditional retail store sales on Friday after Thanksgiving were also up from 2006. This suggests the economy may be stronger than some think.

The one piece of learning we should take away from this is that online sales are growing faster than many suspected. Is your business positioned to take advantage of this?