Cyber Monday tops $3 billion

It wasn’t enough that Target set new records with in-store sales on Thanksgiving and Black Friday.

The main takeaways from all of this are that Black Friday is fading as a key shopping day (total sales for Black Friday were $10.4 billion, down 10 per cent on last year). “That’s part of the reason we think Cyber Monday won’t continue to be the biggest online day going forward in a couple of years”.

Cyber Monday sales hit $2.98 billion which is an increase of 12% over last year’s sales on the same occasion, reports Adobe Digital Index.

The National Retail Federation estimates overall sales for November and December will rise 3.7 percent to $630.5 billion compared with a year ago.

Heavy late-night shopping pushed cyber shopping figures past the $3 billion milestone.

Rob Fenton, UK MD of business data agency fifty-five, said: “Cyber Monday struggles to attract such a devoted level of attention among British shoppers”. Adobe’s Online Shopping reports offer the most comprehensive compilation of data in the industry. 315% surge in home furnishings was observed for Wayfair this year for Black Friday spending. Then she bought earrings and clutches on Monday during its 40 percent off sale. Whether that’s because they have scaled back their plans or because they still have much shopping to do is not clear, but will become evident in the coming weeks.

Some hot sellers were in scarce supply by early afternoon on Monday.

He said: “Early in the day, Target.com orders were coming in twice as fast as our busiest day ever”. The electronic transportation gadget had been $100 off at $399. Products with the highest out-of-stock risk included Star Wars figures and video game bundles, Xbox One Fallout 4 and Halo Bundles, LEGO Star Wars Advent Calendar and Fisher-Price Imaginext Supernova Battle Rover.

Adobe also noted that over 25% of Cyber Monday sales were made via mobile devices, and that shoppers got an average discount of 21.5%.

The online survey showed that online retail saw a considerable online shopping spike, particularly over mobile. Online merchants. Shoppers opted to buy online rather than fight the crowds in brick-and-mortar stores. Online sales increased 17.8% Monday compared to the same day in 2014, IBM says.

“Consumers are out there buying, but they are just buying in a time frame that is not being reported on”, Cohen said.

“Clearly, we have entered a new generation of shopping”, said Marshal Cohen, retail analyst with the Port Washington-based NPD Group. ChannelAdvisor has released same store sales data for the major online shopping players, and the increase in traffic and purchases was strong for Amazon and solid for eBay.