Ten Million People Break Cyber Monday Sales Record - $1.25 Billion

(IDEX Online News) – While the debate is raging on rather the growth in online sales is a result of shifting buying habits or an indication of a rise in spending – online retailers in the U.S. are seeing a jump in purchases this holiday season.

In the first 28 days of the November-December holiday season, $15 billion has been spent online, a 15 percent year-over-year increase, according to comScore.

Cyber Monday reached $1.25 billion in online spending, up 22 percent, representing the heaviest online spending day in history and the second day on record to surpass the billion-dollar threshold.

The first time online retail sales exceeded $1 billion was on Cyber Monday 2010.

Cyber Monday’s 22 percent growth in sales was driven by an increase in both the number of buyers (up 11 percent) and the average spending per buyer (up 9 percent).

Overall, 10 million people bought online on Cyber Monday, representing the first time on record that threshold has been reached in a single day. The average online buyer conducted 1.9 online transactions on Cyber Monday for a total of nearly $125 in spending.