Early sales strong for Cyber Monday 2011

Early numbers show strong sales for Cyber Monday 2011, with retailers posting early numbers showing sales were holding steady at 15 percent over last year. Researchers at IBM Benchmark reported the increase, though it has not yet released dollar figures for the online shopping day.

Highlighting a hot trend in shopping this year, the report found that 7.37 percent of sales were made on a mobile device as compared to 2.25 percent in the same period last year. Data from PayPal found that mobile shopping had increased even more — 514 percent — from Cyber Monday 2010.

PayPal also found that Apple products are selling very well. Online auction site eBay reported that a sale for $50 off a $449 16 GB iPad had been so successful that the item sold out in less than two hours at a rate of about four units per minute.

Over 80 percent of retailers said that they were planning to offer Cyber Monday promotions, the Associated Press reported, and 123 million American shoppers planned to check out the Monday deals.

Black Friday shoppers spent about $52.4 billion over a four-day period starting on Thanksgiving, a 16.7 percent increase over the same period last year.

Despite record-breaking sales on Black Friday and the cheery projections for Cyber Monday, analysts are not raising their conservative estimates for the holiday season, The Washington Post reported Sunday.

Related stories:

More shoppers, more spending, but no revised holiday spending forecasts

Cyber Monday deals 2011: Amazon, Best Buy, GameStop

Cyber Monday expected to hit record sales

Hayley Tsukayama covers consumer technology for The Washington Post.
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