Cyber Monday 2014 Sales Hit $2 Billion, Biggest E-Commerce Sales Day Ever
Sales records on the Monday after Thanksgiving recorded an estimated $2.04 billion which was up 17 percent compared to last year and was also the first time sales passed the $2 billion mark.
The National Retail Federation claimed that estimated retail sales were at a low during the Black Friday weekend, but statics that came from analytics firm comScore are showing that online sales are at an all-time high.
Other than soaring past $2 billion, comScore also added that the sales accumulated during the five period was 24 percent more than last year, disproving the claims that Cyber Monday is a bust.
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"It continues to post new historical highs and reflects the ongoing strength of online this holiday season," said Gian Fulgoni, comScore's Chairman Emeritus.
Fulgoni also said that any presumed weakness in the consumer economy was borne of a change in shopping behavior, as consumers are looking more into online shopping than retail.
Walmart, in particular, reported that they had their biggest e-commerce day ever.
However, their success might be a bit premature as they had to invest in machinery and equipment to fill online orders.
Other companies and stores announced an increase in sales, such as PayPal, eBay and Mulpuru.
PayPal reported that their retail and online sales were up 47 percent compared to last year's Thanksgiving, while eBay said that they sold 2,000 iPad Air 2 tablets, which makes it around one tablet sold per second. Mulpuru, on the other hand, experienced an increase in online retail and are expecting a similar upward trend come December.
"Online is nowhere near its maturity," said Sucharita Mulpuru, an analyst from Forester Research. "Cyber Mondays should be big with a lot of strength in the days leading up to it."
