Cyber Monday Set a Record as the Biggest Online Sales Day in the U.S. Despite dismal forecasts, ecommerce sales on the Monday after Thanksgiving topped $2 billion.

By Laura Entis

Opinions expressed by Entrepreneur contributors are their own.

Forecasts for Cyber Monday were bleak. Right before the ecommerce event was about to kick-off, the National Retail Federation released a study predicting that fewer shoppers would take advantage of all the digital deals.

Well, the results are in: Cyber Monday has come and gone, and guess what? It was the biggest online shopping day ever in the U.S., according to analytics firm comScore. Not only were ecommerce sales up 17 percent from last year, they reached $2.04 billion, the first time online sales have surpassed $2 billion in a single day. (While this is undoubtedly good news for U.S. retailers, to put things in perspective, Chinese ecommerce giant Alibaba surged past $6 billion in online sales during its annual Singles' Day event this November).

Related: Why Every Business Needs a Cyber Monday Strategy

"Any notion that Cyber Monday is declining in importance is really unfounded, as it continues to post new historical highs and reflects the ongoing strength of online this holiday season," Gian Fulgoni, comScore's co-founder and executive chairman, said in a statement.

"Varying reports have also indicated weakness in the consumer economy due to flagging brick-and-mortar sales over the holiday weekend, but what we may really be seeing is an accelerating shift to online buying as mobile phones spur increased showrooming activity," he continued. "The data we're seeing suggest it may be more a change in shopping behavior than a lack of consumer demand."

In terms of online sales, Cyber Monday marked Walmart's most successful day in the retailer's 50-plus year history, Fortune reports.

Related: 5 Ways to Prepare Your Website for Cyber Monday

Wavy Line
Laura Entis is a reporter for Fortune.com's Venture section.

Editor's Pick

A Leader's Most Powerful Tool Is Executive Capital. Here's What It Is — and How to Earn It.
Lock
One Man's Casual Side Hustle Became an International Phenomenon — And It's on Track to See $15 Million in Revenue This Year
Lock
3 Reasons to Keep Posting on LinkedIn, Even If Nobody Is Engaging With You
Why a Strong Chief Financial Officer Is Crucial for Your Franchise — and What to Look for When Hiring One

Related Topics

Starting a Business

5 Tips For Launching a Business While Keeping Your Day Job

Launching a business while holding down a 9-to-5 is no small feat. It's a common path for aspiring entrepreneurs, but it's not without its challenges.

Growing a Business

This Stock Screener is on Sale for Memorial Day

invest while mitigating risk with this top-rated stock screening app.

Business News

The Virgin Islands Want to Serve Elon Musk a Subpoena, But They Can't Find Him

Government officials would like to talk to Tesla's owner as part of an investigation into the Jeffrey Epstein case.

Business News

Amazon Employees Plan a Walkout at Seattle Headquarters, Say Morale Is at an 'All-Time Low'

The organizers hope the walkout will include nearly 1,000 participants.

Business News

Mark Zuckerberg Wins Gold At First Jiu-Jitsu Tournament in California

Last year, Zuckerberg said training helps him "solve whatever problem at work for the day."