Lured by deep discounts, consumers made Cyber Monday 2010 the busiest online shopping day in history.
Approximately $1.028 billion was spent on Nov. 29, the unofficial start of the online shopping season, according to Internet tracking firm ComScore, Inc. That figure marked a 16 percent increase over the previous year’s Cyber Monday sales, which totaled $887 million.
What’s more, the average dollar amount spent by shoppers — including international consumers on U.S. Websites — was reported at $114.24, a 12 percent increase over 2009’s average, according to ComScore.
The firm also found that online sales on Thanksgiving Day, traditionally a slow period for e-commerce, soared 28 percent in 2010 to $407 million.
Consumer trends further appear to be migrating away from brand awareness and loyalty, as online shoppers today are driven more by deals, coupons and incentives, data indicate. Indeed, over the past two years, buying diverse brands increased 10 percent, while visiting multiple retailers climbed 12 percent, ComScore reported.
While reliable search engines may help filter out some lower quality brands and retailers, comparison shopping and price loyalty are clearly gaining momentum.