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Cyber Monday Turns into Cyber Week and Breaks Records

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A combination of free shipping offers, avoiding crazed in store retail shoppers and overall convenience combined with an increase in shopping has led to the busiest online shopping week in Internet history with online spending almost reaching $6 Billion. The entire week after Thanksgiving weekend has now been dubbed Cyber Week and three out of the four billion dollar shopping days in the web's history occurred last week! All the stats and sales figures are courtesy of [URL="http://www.internetretailer.com/vendors/listing/comscore-inc/#comscore-inc"]comScore[/URL].

According to [URL="http://www.internetretailer.com/2011/12/05/record-week-e-commerce"]InternetRetailer[/URL]: "Overall, consumers so far this holiday shopping season have spent more than $18.69 billion with online retailers, up 15% from approximately $16.25 billion at the same point last year. That new comScore figure covers online shopping between Nov. 1 and Dec. 2."

Very interesting stats were summarized by [URL="http://mashable.com/2011/12/05/cyber-week-sets-new-record/"]Mashable[/URL] regarding free shipping offers: "[COLOR=#474747]One impetus for the increased spending is free shipping. ComScore’s analysis shows 63.2% of online transactions included that perk, an 11% jump over last year.[/COLOR][COLOR=#474747]“Consumers have come to expect free shipping during the holiday promotion periods,” said comScore chairman Gian Fulgoni in a [URL="http://www.comscore.com/Press_Events/Press_Releases/2011/12/6_Billion_in_Cyber_Week_U.S._Online_Spending_Sets_New_Weekly_Record"]press release[/URL], “and retailers, in turn, have realized that they must offer this incentive if they want to maximize their share of consumer spending – especially at the outset of the shopping season.” Fulgoni added that nearly half of consumers say they will abandon their shopping cart at checkout if they find free shipping isn’t offered."[/COLOR]

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