For the first time, online spending topped $1 billion on Friday, but today's Cyber Monday sales are expected to generate $1.5 billion and possibly more, according to a report.
Online retail spending on Black Friday was up 26% from last year, with 57.3 million Americans visiting an online retail site, according to comScore, an analysis firm. That number was up 18% from 2011, and not surprisingly, the shopping site with the most visitors was Amazon.com.
Overall, holiday shopping online is faring better than it did a year ago.
Through the first 23 days of November, online spending has brought in more than $13.7 billion, which represents a 16% increase over 2011, when $11.8 billion was spent during the same period. Online spending on Thanksgiving Day also increased to $633 million, up 32% from last year.
“Despite the frenzy of media coverage surrounding the importance of Black Friday in the brick-and-mortar world, we continue to see this shopping day become more and more prominent in the e-commerce channel," said comScore Chairman Gian Fulgoni in an online statement. "Particularly among those who prefer to avoid crowds at the stores.”