Holiday Sales Break Records
Black Friday and Cyber Monday broke records this year, according to a new IBM report released Tuesday.
According to the fourth annual Cyber Monday Benchmark Study, online sales for this year's Cyber Monday were up 33.0 percent compared to last year, pushing the average spending on an online order from $193.24 to a record $198.26.
But consumers didn't just flock to their computers. The IBM study shows 10.8 percent of people shopped from their smart phone or tablets, 3.9 percent more than 2010. Mobile sales alone increased 6.6 percent, showing more people are shopping on the go.
The report showed that social media hype before Cyber Monday increased 115 percent compared to 2010. Popular discussions included tips on looking for the best deals and avoiding cyber scams.
So how did online sales compare to Black Friday? Well compared to online sales, Black Friday didn't compare. Online sales were up 29.3 percent, but the in-store sales increased.
According to Shoppertrak, Black Friday sales increased by 6.6 percent, which boosted economic hopes Monday.
However economic experts say it is too soon to tell whether the holiday sales momentum will continue until Christmas.