Cyber Monday Grows By 19.4 Per Cent This Year

The Cyber Monday 2010 online sale saw a 19.4 per cent growth over last year, according to a report released by IBM owned research firm Coremetrics.

According to the company, this year the average order value (AOV) increased by 2.1 per cent to $194.89 compared to last year's AOV of $190.80.

There was a significant rise in the sale of luxury goods items online, with retailers reporting an increase of 60.4 per cent in sales. Social networks also played a role in redirecting customers to online retailers, with 1 per cent of shoppers coming from platforms like Facebook.

IBM also informed that the mobile phone has become a shopping tool for many consumers, with 3.9 per cent of online shoppers accessing retail websites from their handsets.

John Squire, chief strategy officer of IBM Coremetrics, said in a statement that: “Consumers this year appear much more willing to open their wallets and are turning to online stores for the convenience of shopping wherever and whenever they like, but also as their primary source of information about products and inventory levels.”