Cyber Monday sales projected to reach $13.2 billion
Cyber Monday, the annual online shopping extravaganza following Black Friday, is set to shatter records this year with projected sales of $13.2 billion. According to Adobe Analytics, this figure marks a 6.1% increase from the previous year, reinforcing Cyber Monday’s status as the largest online shopping day of the year.
Adobe predicts online spending will peak between 8 pm and 10 pm local time on Monday, reaching an astonishing $15.7 million per minute during those hours. As of 6:30 pm ET, U.S. shoppers had already spent $8.7 billion. “When the final tally is in, we expect consumers will have spent between $13.2 billion and $13.5 billion for the day,” Adobe reported, further solidifying Cyber Monday’s dominance in the e-commerce landscape.
Holiday Shopping Trends So Far
Adobe’s analysis highlighted significant spending during the extended holiday shopping period.
- Black Friday saw online sales reach $10.8 billion, a 10.2% increase from last year and nearly double the $5.7 billion spent in 2017.
- Thanksgiving Day itself recorded $6.1 billion in online sales, while shoppers spent another $10.9 billion over the weekend.
Meanwhile, Salesforce, another major tracker, estimated Black Friday online sales in the U.S. at $17.5 billion and $74.4 billion globally. Mastercard SpendingPulse reported a 3.4% year-over-year increase in Black Friday sales. Shopify merchants also achieved unprecedented success, generating $5 billion in worldwide sales on Black Friday alone.
Categories Driving Holiday Spending
Adobe’s data revealed that categories such as toys, electronics, home goods, self-care, and beauty were major contributors to the surge in holiday spending. These trends align with consumers’ desire for both practical and indulgent purchases during the festive season.
E-commerce’s Growing Influence
Cyber Monday, a term first introduced by the National Retail Federation in 2005, has grown exponentially in importance as the cornerstone of the holiday shopping season. The convergence of aggressive deals, consumer enthusiasm, and digital convenience continues to propel e-commerce to new heights.
As consumers embrace the ease of online shopping, the industry shows no signs of slowing down. With tools like real-time tracking and advanced analytics, companies are now better equipped to cater to evolving shopper behaviors and demands.
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