In what began as an afterthought to Black Friday, Cyber Monday has become the No. 1 online shopping day of the year. There are signs that consumers plan to spend heavily online this holiday season.
The first Monday after Thanksgiving, Cyber Monday traditionally marks the first big jump in online spending for the holidays. Millions of consumers are expected to storm retail websites for Web-only deep discounts, special promotions and free shipping.
No longer just an afterthought to Black Friday, Cyber Monday has grown in importance in recent years.
In 2006 it was only the 12th-biggest online spending day of the year. It's jumped in the rankings every year since, landing in the No. 1 spot last year for the first time, said Andrew Lipsman, vice president of industry analysis at market research firm ComScore Inc., which tracks online spending.
Cyber Monday sales topped $1 billion in 2010, and Lipsman estimated that sales this year could reach a record $1.2 billion.
Already there are signs that consumers plan to spend heavily online this Christmas season. Read more...