Cyber Monday Stocks to Watch

According to Cnet, a total of $5.27 billion dollars was made through online shopping with Black Friday and Thanksgiving sales combined.

Online sales have also been stretching out more and more.

Shoppers continue to embrace the convenience of online buying at the expense of brick-and-mortar stores.

Consumers have spent $3.39 billion online as of Monday evening, according to Adobe, which is a 10.2% increase year-over-year.

In 2016, Black Friday went digital.

Monday was the biggest Cyber Monday ever, on track for $3.39 billion spent in online shopping, Adobe Systems Inc. reported. That was very good news for some retailers, but not everyone was a victor.

Amazon’s Echo Dot is the best-selling item on Amazon.com so far this holiday season.

Mobile shopping was a clear victor. She warned that there may come a point when the whole year is just one big online shopping extravaganza.

“Cyber Monday will start becoming more of the focus in peoples’ minds, especially as shoppers and millennials, they get older, their buying power increases”, Obal said.

The five top selling electronic products on Black Friday were Apple iPads, Samsung 4k TVs, Apple MacBook Air, LG TVs and Microsoft Xbox. The management had already announced Walmart Cyber Monday deals earlier, and WMT stock has been edging higher on the optimism surrounding the holiday shopping frenzy among consumers.

Kohl’s rolled out its Cyber Days sale that started Sunday and runs through November 30, and offers discounts on electronics, clothing, home goods and toys. That’s 33% growth year-over-year. Mobile accounted for 57% of visits and 40% of sales ($771 million).

Shelley Kohan, RetailNext’s VP retail consulting, told USA Today, “I think going forward, mobile shopping will become more relevant because it’s more convenient, it’s easier, and Millennials, who have the largest shopping power out there, are very comfortable shopping with their mobile devices”. Malls were certainly not deserted, but the numbers were clearly down most places.

However, the two days have merged in recent years and analysts say the sales have evolved into a more extended period where some shops were even offering up to two weeks of heavy discounts.

By opening on Thanksgiving, retailers have sapped some of the enthusiasm from Black Friday, making it less of an event. Shoppers thronged stores during the Thanksgiving weekend, the four-day period starting Thursday.