Cyber Monday Sales Surpass $700 million, Set Record

Cyber Monday Sales Surpass $700 million, Set Record

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The “Cyber Monday” shopping holiday had its biggest year yet in its third year of existence, as sales hit over $700 million, rose 21 percent from the year before, and set a new single-day record for online sales.

According to comScore, Inc., statistics cited by the Wall Street Journal, online sales on Monday reached $733 million, up 21 percent from 2006’s previous high. The number of buyers, meanwhile, rose 38 percent, with 44 percent of all Internet users shopping online. Amazon.com led the pack, followed by Wal*Mart, Target, Dell and Best Buy, as consumer electronics made up a big chunk of online sales.

Cyber Monday, an initiative backed by the National Retail Federation and its Web site Shop.org, was established in 2005 to encourage shoppers to make purchases online on the Monday after Thanksgiving.

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