Buyers Spend $ 10.8 Billion on Cyber ​​Monday

According to data from Adobe Analytics, holiday shoppers went online on Monday and spent $ 10.8 billion, setting a record for the largest day of online shopping in the United States.

Cyber ​​Monday spending increased 15.1% year-over-year, according to Adobe, which analyzes transactions on the websites of 80 of the 100 largest U.S. online retailers, which is less than Adobe’s initial forecast of $ 12.7 billion. The company had revised the estimate down in recent days.

Shoppers have started shopping for gifts earlier than ever, with retailers offering deals to avoid crowded stores during the pandemic. With the long holiday shopping season, it’s hard to measure what this day says about the entire season.

For many retailers, the one-day online shopping event has a reduced role. Many big box retailers like Walmart and Target started their offerings in mid-October to coincide with Amazon Prime Day and plan to have more in the coming weeks. And Black Friday – a one-day event typically focused on stores and malls – customers made a lot of their purchases on company websites rather than in person.

“Throughout the remainder of the holiday season, we expect to see record sales continue and a curbside recovery gain even more momentum as shoppers avoid potential crowds and shipping delays,” said Taylor Schreiner, director of Adobe Digital Insights.

The shift to online shopping has also reduced the importance of some typical metrics that businesses, analysts, and investors watch: long lines and large crowds in stores on Black Friday.

Thanksgiving Day and Black Friday also set records for online shopping, according to Adobe. Online spending rose nearly 22% year-over-year to $ 5.1 billion on Thanksgiving Day. On Black Friday, online spending jumped by roughly the same amount to a total of $ 9 billion.

As shoppers purchased popular items like Hot Wheels, Lego sets, and Apple’s AirPods, Adobe found that many made these purchases on their smartphones, and a growing number of people were collecting their purchases online via pickup. at the edge of the street.

Spending on smartphones accounted for 40% of total e-commerce spending on Black Friday and almost half on Thanksgiving Day. In-store and curbside collection of online shopping increased 52% on Black Friday year over year as shoppers attempted to avoid or limit time spent in stores during the pandemic.

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