Cyber Monday Sales To Hit $3.6 Billion, But Social Buzz Tumbles

Mobile accounted for 37 percent of sales through Sunday.

In that same ten-hour period, top-selling electronics included Sony PS4, Microsoft Xbox, Samsung 4K TVs, Apple iPads and Amazon Fire, Adobe said.

The Target Cyber Monday 2016 deals will be offered on both online and in-stores and will go live on early Sunday morning and the said sitewide discount will be applied on checkout.

Plenty of bargain-hunters took a break from Thanksgiving festivities on Thursday to shop – with online sales totaling $1.93 billion, and 40 percent of the total on tablets or smartphones ($771 million), according to Adobe.

If that holds, Cyber Monday will beat the $3.34 billion shoppers spent online on Black Friday by 0.6% to retain the crown as the biggest online shopping day of the holiday season. The National Retail Federation said average spending per person over the Thanksgiving weekend fell by about $10 to $289.19, according to its survey of 4,330 consumers. Amazon said orders via its mobile app are on pace to surpass those from Cyber Monday previous year.

Cyber Monday’s deals have been the best way for online stores to gain more customers and advertise the benefits of purchasing goods through the internet.

“Even if there’s a great sale at some store, most of these stores have an online presence, so people are just going online to try to find it”, said Cox, the Queens professor.

As for the momentum heading into the day, Adobe Data reported that more than $5 billion was spent online by the end of Black Friday, a 17.7 percent increase compared to previous year. “Unemployment is low, gas prices are cheap and online retails sales for the first three quarters of the year have grown faster”, he said. “These nascent devices, including digital assistant devices, virtual reality and drones, landed on the front page of retailer’s Black Friday ads… for the first time this year”. Yet is Cyber Monday still a thing, or do we all have shopping holiday fatigue by the time it comes around?

Traffic trends were healthy at footwear maker UGG, owned by Decker’s Outdoor Corp, and Gap Inc, the biggest surprises, Jefferies & Co analysts said in a client note. “For example, Amazon is doing efficiency pricing with packaging – putting more items in a box, etc”. Best Buy is doing free shipping on these TVs, but in most areas Store pickup is not active. To wit: holiday shopping from November 1 to 27 brought in $36.5 billion in online revenue alone, which marks a 7.1% increase year-over-year – and, what’s more, 26 out of those 27 days generated over $1 billion, Adobe added.