CINCINNATI -

The online shopping high point of the year seemed to serve the automotive industry well, at least according to Swapalease.com. Nov. 28 — or Cyber Monday — showed shoppers searching for discounts on everything from clothes to electronics and even cars.

Taking advantage of the influx of online shoppers, Swapalease.com’s staff noted that it discounted its buyer registration price by 80 percent.

As a result, the site set a record for single day sales, outselling the previous record by more than 35 percent. And despite the deep discount, revenue for the day was nearly 20 percent above average, the company noted.

The Cyber Monday promotion was so successful, Swapalease.com continued it for an extra day.  Buyer registrations on Tuesday, Nov. 29, were nearly triple the average.

Commenting on the results, the site’s director of marketing Jennifer Streets noted, “"We weren’t surprised by the sharp upswing in sales on Cyber Monday.

"We offered a great deal, and it’s clear that the ongoing economic slump is creating strong interest in leasing and lease takeovers in particular. A short-term lease offers low payments and no money down — the perfect combination for someone looking for a change in vehicle,” she added.

The site’s executives also noted that they saw a demand for lease transfers this year and “went after it” with an aggressive Cyber Monday. And they reaped the benefits.

With many industry experts predicting even more buyers will try to transfer or get out of their leases early in the first few months of 2012, executives are hoping to take advantage.

"It is the beauty of being online with millions of visitors each year, you can test different pricing models to see which works best for consumers," said Richard Joseph, co-founder of Swapalease.com. 

On top of breaking company records, Cyber Monday’s single day of sales were more than quadruple the average day’s sales for 2011, company officials noted.

The company noted that the promotion was also effective for telesales, as well as online registrations.

"The Cyber Monday promotion pushed people who were considering a lease takeover into decision mode," said Swapalease.com buyer account manager David Hildbold.

"It was a great opportunity to get deeper into Swapalease.com’s trusted program and start contacting prospective sellers. It also did a great job of heightening awareness of Swapalease.com’s position as the leader in lease transfers and lease assumptions, while adding many new buyers to our database and increasing our sellers’ opportunities to connect,” he concluded.