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Cyber Monday boosts gloomy online retail sales


Online retail spending fell an unprecedented two percent in November, but rose 15 percent on the online shopping day known as Cyber Monday The name given by online retailers and e-commerce experts to the Monday following the Thanksgiving holiday. With its Black Friday counterpart in actual store-based traffic, analysts have pointed to significant spikes in online shopping on Cyber Monday. , Internet Internet

Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the
 researcher comScore reported on Wednesday.

The Reston, Virginia-based comScore said Americans spent 846 million dollars online on Cyber Monday, the Monday after the Thanksgiving Thanksgiving

annual U.S. holiday celebrating harvest and yearly blessings; originated with Pilgrims (1621). [Am. Culture: EB, IX: 922]

See : America


Thanksgiving

national holiday with luxurious dinner as chief ritual. [Am. Pop.
 holiday, up from 733 million dollars last year and the second-highest total on record.

"Consumers are clearly responding positively to retailers' aggressive online discounts," said comScore chairman Gian Fulgoni.

"With Cyber Monday promotions beginning in earnest ear·nest 1  
adj.
1. Marked by or showing deep sincerity or seriousness: an earnest gesture of goodwill.

2. Of an important or weighty nature; grave. See Synonyms at serious.
 over the Thanksgiving weekend, consumers have finally begun to open their wallets," said Fulgoni.

"This is an extremely encouraging development for retailers and we can but hope that their aggressive discounting has still left room for profits," he said.

ComScore said online retail spending for the first 31 days of the holiday season starting November 1 fell two percent from a year ago to 12.02 billion dollars, the first such drop for the period.

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 another online research firm, Hitwise, the top visited retail website on Cyber Monday was Amazon.com, followed by Walmart.com, Target.com, BestBuy.com and Sears.com.

Hitwise said Amazon.com's traffic was up 21 percent on Cyber Monday 2008 compared with Cyber Monday 2007.

While the Cyber Monday sales figures sales figures nplcifras fpl de ventas  were encouraging, comScore has forecast flat online retail sales for the November-December holiday period of 29.2 billion dollars, the same as last year.
Copyright 2008 AFP Global Edition
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Author:AFP
Publication:AFP Global Edition
Date:Dec 3, 2008
Words:228
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