Cyber Monday gives Black Friday a run for it's money

New York (NY) - More than $733 million was spent online this past Monday, making it the most successful Cyber Monday on record.

Moreover, this gives November 26, 2007 the spot as the most money spent for online shopping in a single day. According to Internet industry tracker Comscore, it was a 21% increase over last year’s Cyber Monday.

However, similar to what was seen with Black Friday, the day after Thanksgiving, the average amount spent per person dropped over last year, but more people took part in the deals. Comscore reports that 38% more people shopped online compared to Cyber Monday last year.

Cyber Monday is the name given to the Monday after Thanksgiving, when e-tailers dole out special one-day sales in an attempt to compete with brick-and-mortar Black Friday deals.

Comscore said it expects online holiday shopping to continue to grow. "We expect that a number of individual shopping days during the coming weeks will surpass the Cyber Monday total, with some days potentially surpassing 800 million dollars," said Comscore chairman Gian Fulgoni.