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Cyber Monday sales score major gain over last year

Coremetrics, a division of IBM, reports that Cyber Monday sales were up by a wide margin over last year. The day's revenue also climbed higher than online sales on Black Friday.

Cyber Monday appears to have been a huge hit among consumers this year.

According to Coremetrics, a division of IBM, online sales yesterday were up 19.4 percent, compared to Cyber Monday 2009. The average consumer's online order value was $194.89, representing an 8.3 percent gain over the average order value of $180.03 in 2009. Coremetrics also found that luxury goods sales were up 24.3 percent, compared to Cyber Monday 2009.

Coremetrics also reported that total sales on Cyber Monday were 31.1 percent higher than Black Friday's online sales. However, the research firm stopped short of saying exactly how much revenue online retailers generated on Cyber Monday.

That said, the Coremetrics study followed a report released yesterday by market-research firm, ComScore, showing Black Friday online sales were $648 million, up from the $595 million consumers spent online on Black Friday 2009.

Assuming those revenue figures and Coremetrics' estimates are correct, total Cyber Monday online sales could have been around $850 million, though that figure has not been confirmed by any research firm.

Coremetrics reported that Cyber Monday was "the biggest shopping day of the year so far." Moreover, the company's chief strategy officer, John Squire, said that consumers "appear much more willing to open their wallets" this year.

Cyber Monday's gain is all the more notable when one considers that consumers across the U.S. are now saving more than they once did. In 2007, Coremetrics said, consumers saved just 2 percent of their disposable income. Today, they're saving almost 6 percent of their income.