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Cyber Monday Kicks Off Online Holiday Shopping Season

  • Reuters, Monday, November 28, 2005 10:49 AM
Happy holiday season everyone, and welcome to Cyber Monday, one of the biggest online shopping days of the year. Named for the Monday after Thanksgiving, and coming just after "Black Friday," "Cyber Monday" has become a big day because many online retailers launch major sales this week. Online shoppers also tend to begin their holiday shopping today. In fact, analysts note that most people who shop online do it at work, not at home, due to higher-speed Internet connections. According to Internet research firm comScore Networks, U.S. online holiday sales are expected to hit $20 billion this year, up 24 percent from last year's $15.8 billion. Still, this number accounts for less than 5 percent of total holiday sales in the U.S., but excludes large corporate purchases and sales on auction sites like eBay Inc., the Internet's largest shopping site.

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