Retail
Adobe: Cyber Monday on Track to Hit $3.36 Billion
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Between midnight and 10:00 a.m. on Cyber Monday, consumers had already spent some $540 million for online purchases, and researchers at Adobe Digital Insights (ADI) have reaffirmed their forecast for total Cyber Monday sales of $3.36 billion. The total represents year-over-year sales growth of 9.4%.
Through midnight on Sunday, online sales totaled $36.5 billion, up 7.1% year over year. Of those 27 days, 26 resulted in more than $1 billion in online sales.
The four-day holiday weekend saw online sales grow 16.4% to $9.36 billion, and Black Friday alone accounted for $3.34 billion in sales, the first time online sales have passed the $3 billion mark on Black Friday. Online sales rose 11.5% year over year on Thanksgiving Day to $1.93 billion.
U.S. shoppers used their mobile devices on 56% of their visits to online stores (45% by smartphones, 11% by tablets) and 37% of sales were attributed to mobile devices (25% to smartphones, 12% to tablets). Mobile revenues on Black Friday alone reached $1.2 billion, the first day ever to top the billion dollar mark.
Black Friday and Saturday discounts were highest on tablets (average discount of 24%), televisions (22%), toys (16%) and computers (11.4%). Video game consoles prices rose 1.3%.
ADI managing analyst, Becky Tasker, said:
We’ve seen record performance in online shopping over the last few days. Black Friday may overtake CyberMonday for the first time ever due to Black Friday’s higher than expected revenue of $3.34 billion. Based on early morning shopping results, Cyber Monday is on track to hit our prediction of $3.36 billion and could retain its position as the top online shopping day of the season, but only if retailers continue to push as good of deals today as they have over the holiday weekend.
Adobe’s latest insights are based on aggregated and anonymous data from 23 billion visits to retail websites. Adobe’s retail reports offer the most comprehensive data compilation in the industry, measuring 80% of all online transactions from the top 100 U.S. retailers. Some $7.50 of every $10 spent with the top 500 retailers goes through Adobe Marketing Cloud.
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