Consumers spend $534 million online on Black Friday, today is 'Cyber Monday'

By on December 1, 2008, 6:16 AM
ComScore released numbers for online spending during Black Friday in the U.S. For non-economists, figures look encouraging with a total estimated spending of $534 million. However, this represents a mere 1 percent increase over last year, which comes despite of the general recession climate affecting this market. In previous years, online sales growth during Black Friday have surpassed 20 percent.

There are a few other interesting tidbits in the report issued during the weekend. Unlike the average shopper that wakes up early on Black Friday to get the best deals from retail stores, the study shows that the bulk of sales took place after 8 AM, with the most active shopping period between 12 and 4 PM.

For the whole holiday season so far, comScore reports that a staggering $10.41 billion has been spent online, still a 4 percent decline from last year. As most of you are aware, however, today is Cyber Monday which represents the kick-off of the holiday online shopping season in the U.S., so watch out for further discounts and offers from online stores.

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