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Cyber Monday sales up 15% thus far

November 28, 2011 | 12:38 pm

Cyber Monday got off to a strong start
Cyber Monday 2011 got off to a strong start as bargain hunters jumped online to shop on the first workday back from the Thanksgiving weekend.

By noon, online retail sales were up 15% compared with a year ago, according to a report from IBM Corp.

Millions of shoppers are predicted to browse online, many while at work, to snap up online-only discounts that retailers are rolling out. Last year, Cyber Monday ranked as the No. 1 day of online spending during 2010, said Andrew Lipsman, vice president of industry analysis at market research firm ComScore Inc., which tracks such spending.

Cyber Monday sales this year could reach a record $1.2 billion, Lipsman estimated.

Retailers are also trying to keep the momentum going after a robust Black Friday shopping weekend. Many, such as Amazon.com and Wal-Mart Stores Inc., have worked to transform Cyber Monday into a week of online shopping.

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Wal-Mart brings back layaway program for the holidays

Amazon warehouse employees overheated ahead of holiday season

-- Shan Li

Photo: Cyber Monday specials on the Target website. Credit: Stan Honda / AFP/Getty Images

 

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