Cyber Monday sales slow as online shopping spans holiday season

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

The pace of online spending slowed on Cyber Monday after consumers started their Internet shopping earlier over the weekend, turning to their smartphones to pick up deals.

Web-based sales climbed 18 percent Monday from a year earlier, after jumping 26 percent on Saturday and Sunday. However, Cyber Monday still remains the biggest online spending day, with total outlays hitting a record $3 billion this year.

Holiday purchasing patterns are shifting as more spending moves online and away from traditional stores. For most of the past decade, the Monday following Thanksgiving was the busiest day for Web shopping as U.S. consumers returned to work and used their offices’ fast Internet connections to buy holiday gifts. But the rise of smartphones and speedier home Internet service has led consumers to snag online deals throughout the holiday weekend. Retailers — traditional and electronic — are now offering bargains earlier than ever.

Read more from Bloomberg


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