Posted: Nov 26, 2012 10:14 AM by The Associated Press
Updated: Nov 26, 2012 10:19 AM
NEW YORK (AP) - After the holiday rush at the mall, today is expected to be the busiest day of the year for online shopping.
Dubbed "Cyber Monday", Americans are expected to spend $1.5 billion, up 20 percent from last year as retailers have ramped up their deals to get shoppers to click on their websites.
The holiday season can make up to 40 percent of a retailer's annual revenue.
Online sales on Thanksgiving Day, traditionally not a popular day for online shopping, rose 32 percent over last year to $633 million, according to comScore. And online sales on Black Friday were up 26 percent from the same day last year, to $1.042 billion. It was the first time online sales on Black Friday surpassed $1 billion.
For the holiday season-to-date, comScore found that $13.7 billion has been spent online, marking a 16 percent increase over last year. The research firm predicts that online sales will surpass 10 percent of total retail spending this holiday season. The National Retail Federation estimates that overall retail sales in November and December will be up 4.1 percent this year to $586.1 billion
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