Americans Spend Record $3.45 Billion on Cyber Monday

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Cyber Monday 2016 is now in the books with, as expected, a new record for the largest online sales day in history. Spending reached a total of $3.45 billion, up 12.1% year over year and 2.6% above the original prediction by analysts at Adobe Digital Insights (ADI).

Of the Cyber Monday total, mobile devices accounted for $1.07 billion, an increase of 34% year over year, but $130 million less than mobile-generated spending on Black Friday. Through Monday, online sales total $39.97 billion, up 7.6% year over year. ADI once again affirmed its earlier projection of $91.6 billion in 2016 online holiday sales.

U.S. shoppers used their mobile devices on 44% of their visits to online stores (38% by smartphones, 9% by tablets) and 31% of sales were attributed to mobile devices (22% to smartphones, 9% to tablets). Mobile revenues on Black Friday alone reached $1.2 billion, the first day ever to top the billion dollar mark.

ADI principal analyst Tamara Gaffney said:

Cyber Monday was one for the history books this year, bringing in $3.45 billion and making it the biggest online shopping day ever. Consumers converted carts into purchases at record high levels before the season, and likely the year’s lowest price deals ended. It’s an incredible milestone, but it’s also incredible that Black Friday inched so close to Cyber Monday this year, generating only $110 million less in online sales. We’ll be watching this closely next year as Black Friday could be the one to top the records.

ADI also revealed the five states where Cyber Monday sales rose the most: Washington, D.C., (32.6%); Maryland (23.1%); Alaska (20.6%); Indiana (18.7%); and Nevada (17.4%). Sales rose 16.9% in California (ranking ninth) and 12.1% in New York (ranking 24th).

Items with the largest discounts included TVs (average discount of 21.4%), tablets (21.1%), toys (14.6%) and computers (11.1%).

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.