Online Sales Skyrocket Ahead of Cyber Monday

That seems consistent with data released by Google last week showing that foot traffic in stores tends to peak between noon and 4 p.m. on Black Friday. “Consumers are pushing retailers toward deals and bargain”, she told the Daily News. But after stronger-than-expected Black Friday results, the company hedged a bit on that prediction.

“It’s really this weeklong flow of deals”, said Shawn DuBravac, chief economist at the Consumer Technology Association.

The Orlando Magic online team shop sold gear for 25 percent off of a purchase of $50 or more.

The NRF estimates almost 60 percent of Americans will go online Monday to buy these items.

And, this growth is likely to continue on Cyber Monday, when NRF estimates over 122 million customers would shop online – up from 121 million a year ago.

“I think one of the questions people have is, ‘Do I need to keep paying attention or can we be done with all of the shopping hype?’ And no, there’s one more day to still pay attention to”, Rocha said.

The term is still used to promote heavy discounts online, even though most people now have constant access to the web via their phones and computers.

“We are casting a wide net on any and all types of gifts”, he said. Online behemoths such as Amazon.com, Inc. The NRF predicts that 122 million USA consumers will shop online today, up from 121 million past year.

Cyber Monday is likely to have seen a small increase in the number of consumers shopping, up from 121m to 122m on NRF figures. Consumers spent $3.34 billion shopping online on Friday, a 21.6 percent increase from the same day previous year, according to Adobe Digital Insights, which tracks online retail transactions.

But other days are catching up. “With the full day total coming in at $3.34 billion, Black Friday may have just dethroned Cyber Monday’s position as the largest online shopping day of the year”.

The good news for retailers from this Black Friday weekend?

Top-selling electronics on Cyber Monday included the Microsoft (MSFT) Xbox, Sony (SNE) PS4, Samsung 4K TVs, Apple’s (AAPL) iPad and the Amazon (AMZN) Fire TV stick. Amazon kicking off its deals on November 16 helped give the whole month a sales lift. It’s a million higher than that of a year ago.

“With mid-season shopping behind us, it’s not too late for retailers to tweak their online and in-store strategies to help increase traffic and see a big payoff during the last few weeks of the holiday season”, Shay adds.

Holiday spending rose 9 percent Thursday and Friday combined, compared with the same two-day period previous year, according to First Data. However, customers spent an average of $289.19 in this period – down 3 percent from the $299.60 spent past year.