U.S. Cyber Monday sales hit $12.6 billion with an increase of 3% YOY: Salesforce

Yahoo Finance published this video item, entitled “U.S. Cyber Monday sales hit $12.6 billion with an increase of 3% YOY: Salesforce” – below is their description.

Cyber Monday sales hit an all-time high, amounting to a record $12.6 Billion in consumer spending, a 3% year-over-year increase. Salesforce (CRM) Vice President and General Manager of Retail Rob Garf credits the “resilient shopper” — who was strategic about sales and didn’t “bite” on early holiday shopping promotions — for this feat.
Garf tells Yahoo Finance that as holiday shopping continues, retailers appear to be positive and expect “really good footing” with inventory levels and profit forecasts through the end of the holiday season.
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In This Story: Cyber Monday

Cyber Monday is a marketing term for the Monday after the Thanksgiving holiday in the United States. It was created by retailers to encourage people to shop online. The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman, and made its debut on November 28, 2005, in a Shop.org press release entitled “‘Cyber Monday’ Quickly Becoming One of the Biggest Online Shopping Days of the Year”.

Cyber Monday takes place the Monday after Thanksgiving; the date falls between November 26 and December 2, depending on the year.

Cyber Monday has become the online equivalent to Black Friday and offers a way for smaller retail websites to compete with larger chains. Since its inception, it has become an international marketing term used by online retailers across the world.