Cyber Monday Sales Set Record Wednesday, Nov 28, 2007 7:00 AM ET ONLINE HOLIDAY SPENDING HIT $733 million on Cyber Monday, setting a new one-day record for Web retail sales, according to comScore. Billed as the start of the online holiday shopping season, the Monday after Thanksgiving features special sales and promotions by e-commerce sites. Cyber Monday sales increased 21% over 2006 and 84% over the daily average during the previous four weeks. The total also easily eclipsed Black Friday online spending of $531 million. While the number of buyers was up 38% on Cyber Monday compared to last year, the average amount spent declined 12%. The drop was attributed by comScore to broader and deeper discounts by online retailers and new Cyber Monday shoppers spending less than return ones. --Mark Walsh Is Black Friday Really Black? Jacobs Media's Dave Beasing pulls back the curtain on myths of "Black Friday" and "Cyber Monday." The day after Thanksgiving is called “Black Friday” because – as the busiest shopping day of the year – that’s when retailers finally “get into the black,” show a profit. Right? Wrong. Last year, Black Friday only ranked 9th in sales, far surpassed by the two weekends just before Christmas. The Monday after Thanksgiving is called “Cyber Monday,” because – when consumers get back to work in front of their computers – that’s the busiest online shopping day of the year. Right? Wrong. “Cyber Monday” was coined in 2005 by Shop.org, part of the National Retail Federation. In reality, Cyber Monday isn’t even among the Top 10, with more online purchases reported during several days in December. Both events exist for one simple reason: Marketers created them. Give them credit for… • Declaring an exciting “opening” to the season, rather than a “soft launch” • Creating urgency • Setting annual appointments with consumers • Using a credible storyline to garner media coverage and buzz That’s not just smart retailing. That’s show biz. P.T. Barnum would be proud.