Online retailers saw significant sales success on the Monday after this year’s Thanksgiving. “Cyber Monday,” so named to both reflect and encourage the post-Thanksgiving boom in online shopping, may generate up to $1 billion in sales this year, according to a Jeffries analyst. This will reflect an increase from last year’s Cyber Monday sales of $887 million, the analystics firm comScore reported. The firm plans to publicize its Cyber Monday date on Wednesday.
As the public increased its purchases, retailers’ stocks rose in tandem. Amazon shares reached an all-time peak of 2.6%, while the stock of its smaller rival Overstock.com rose 8.1%. Ebay Inc’s PayPal unit saw a 21% rise in its total payment volume as compared to last year’s Cyber Monday.
Total U.S. online sales in 2009 were $130 billion.