Online Retailers Expect Biggest Holiday Sales on Cyber Monday

Online stores are eagerly awaiting Cyber Monday. Wikipedia says that Cyber Monday refers to the Monday immediately following Black Friday, a day after Thanksgiving and heralds the onset of the holiday online shopping season. Cyber Monday is often believed to lead to the highest sales shopping day of the year for online retailers. This year it is on November 27, 2006.

Comscore reports that the U.S. holiday E-commerce spending had a strong start, and November spending is up 23 percent versus corresponding days last year.

“With 23 percent growth versus the same days last year, online holiday retail spending is once again strong coming out of the gate, commented Gian Fulgoni, Chairman of comScore Networks. Already we have seen a single day amass $475 million in online retail sales (November 14, 2006). We expect “Cyber Monday” this year to approach $600 million, which would be higher than any single day during the 2005 online holiday shopping season.”

Do you run an online store? Get ready for Cyber Monday and get rich!

Update: a new Google Checkout holiday site will be launching on Cyber Monday. A new survey conducted by Harris Interactive and commissioned by Google Checkout says that 40% of employed U.S. adults will be doing online holiday shopping from work this year, and 1 in 4 will try to find the perfect gift on Monday, November 27.

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