'Cyber Weekend' Will Spark Online Spending Christmas Bonanza

Increased online spending in the weeks beginning this weekend and running up to Christmas will rise to 28%, according to data from a leading ecommerce company.

Venda claims that spending between Black Friday (the first day of shopping after Thanksgiving Day in the United States) and Cyber Monday (the Monday after Thanksgiving Day in the US) on what is known as Cyber Weekend creates a 20% rise in money spent online.

It also spurs a continued 28% rise in spending throughout the remaining weeks in December up to Christmas says Venda.

Eric Abensur, Group CEO of Venda, explained why the explosion in online spending, particularly shopping on tablet devices, has become so important to profit margins of retailers during December.

"The growth in smartphone and tablet ownership in recent years has transformed how consumers are able to shop. Some commentators continue to believe that when it comes to making a purchase, shoppers prefer the reliability of a traditional computer," he said.

However, according to Venda, their figures reveal that the Cyber Weekend may soon be known as Tablet Weekend instead, with spending on tablet devices already doubling year-on-year in the run-up to Christmas.

Tablets now account for almost a quarter (23%) of all pre-Christmas online spending, which is up by 12% compared with last year, when tablet spend was just 11%.

Tablet shoppers also appear to be more valuable to retailers, spending an extra £11.89 per transaction over the Cyber Weekend in 2012, compared to desktop shoppers.

"Our figures show that consumers are not only increasingly willing to make a purchase with the device in their pocket or on their coffee table, but tablet users actually spend more than traditional desktop users. In this light, it's important for retailers to offer a great shopping experience to their customers, regardless of which device they decide to use to shop online," said Abensur.

Similarly, Christmas remained important to retailers said Abensur, even with changes in the way people shopped online and should continue to give great deals.

"The Christmas quarter can make or break a high street retailer, as the January closures earlier this year have shown. For retailers to make the most of the gifting season, our data indicates that they should continue to offer great deals throughout the run-up to Christmas and not just for one weekend.

"In fact, retailers that are already planning for the entire Christmas period, rather than just the 'Cyber Weekend', may already be getting an early Christmas present - with online sales in the run-up to the holidays due to break recent records. Whether this increased online spending will affect sales this weekend or translate into more high street shopping remains to be seen."