Cyber Monday sales jump 19%

Retailers used promotions and free shipping to lure shoppers. Sales of luxury goods and jewelry drove the increase.

By TheStreet Staff Nov 30, 2010 11:47AM

Online Christmas © BilderLounge/SuperStock By Jeanine Poggi, TheStreet

 

Online sales on Cyber Monday climbed 19.4% from a year earlier, helped by demand for jewelry and luxury goods.

 

The average order value grew 8.3% to $194.89 from $180.03, according to Coremetrics, a unit of IBM (IBM).

 

Shoppers have been increasingly turning to the Web for holiday gifts in recent years. Retailers, battling a sluggish economy for a third straight year, rolled out special online-only promotions and shipping deals to draw consumers.

 

"Retailers have done an exceptional job across the board of appealing to consumers with highly personalized promotions and a slew of free-shipping promotions," John Squire, the chief strategy officer at IBM Coremetrics, said in a statement.  

 

Shoppers spent 31% more on Monday than on Black Friday. Jewelry retailers had the largest gap between the two days, selling 60% more on Monday than on Friday. Post continues after video:

More shoppers chose to use their mobile devices to make purchases, with 3.9% of consumers logging on to a retailer's mobile sites.

 

Luxury goods saw some of the biggest gains, with sales in the category spiking 17.6% on Monday, compared with the same day in 2009.

Cyber Monday sales data about specific retailers is still being compiled. If Black Friday results are any indication, Amazon (AMZN) continues to lead the pack, according to Experian. This marked the 6th consecutive year Amazon ranked in the No. 1 spot.

 

Wal-Mart (WMT) placed second, followed by Target (TGT). Best Buy (BBY) and J.C. Penney (JCP).

 

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