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Cyber Monday Update - Clearance Sales Amidst the Holiday Season

ComScore’s numbers are in: Cyber Monday sales grew 15% year over year, making last Monday the second biggest single day on record for ecommerce. However, this performance hides a fair share of rebalancing, as shown by the chart below, as consumers held off on purchases until Monday this year.

The overall mood remains mixed for retailers: consumers’ wallets are thinner and online retailers have to push steep promotions and free shipping to get customers to their sites.

According to ComScore, “more than half (51 percent) of consumers indicated that the level of promotions and discounts is higher this year than last year, while only 12 percent said that there appeared to be fewer, suggesting that retailers are having to be more aggressive in discounting to spur consumer spending.”