• November 28, 2007

Online holiday spending hit $733 million on Cyber Monday, setting a new one-day record for Web retail sales, according to comScore.

Billed as the start of the online holiday shopping season, the Monday after Thanksgiving features special sales and promotions by e-commerce sites. Cyber Monday sales increased 21% over 2006 and 84% over the daily average during the previous four weeks. The total also easily eclipsed Black Friday online spending of $531 million.

While the number of buyers was up 38% on Cyber Monday compared to last year, the average amount spent declined 12%. The drop was attributed by comScore to broader and deeper discounts by online retailers and new Cyber Monday shoppers spending less than return ones.

--Mark Walsh