U.S. shoppers are on track to spend an estimated $9.4 billion on Cyber Monday – a record – boosting an already robust holiday shopping season.
Consumers had dropped $473 million online as of 9 a.m. New York time, on track for an almost 19% increase over last year, according to Adobe Inc. The firm said four “golden hours of retail” from 10 p.m. to 2 a.m. generate 30% of the day’s revenue as shoppers compete to snag the best deals.
Adobe said big e-commerce platforms such as Amazon.com Inc. will benefit the most from the surge in sales.
The hottest sellers to date, according to Adobe, include Frozen 2 toys, L.O.L Surprise Dolls and Paw Patrol in the toy category. Top-selling electronics include Samsung televisions, Apple laptops and Amazon’s line of Alexa-powered Echo devices.
Extreme weather across the continental U.S. gave consumers plenty of reason to shop from the coziness of their own homes. A storm that started in California barreled across the nation and pummeled the Northeast just as Thanksgiving travelers were heading back from visiting family.
Black Friday hit a record $7.4 billion in U.S. online sales as many shoppers spent the day clicking instead of lining up to buy.
It was the second-biggest U.S. online sales day ever, behind 2018 Cyber Monday’s $7.9 billion, according to a survey of 80 of the top 100 U.S. online retailers from Adobe Analytics.
Shoppers increasingly favor buying online from the start of the holiday season, rather than waiting for Cyber Monday as they may have a few years ago. That’s in part as they transition to purchasing via mobile devices from using computers – often at the office after the holiday weekend.
Purchases made by smartphone on Friday accounted for $2.9 billion in sales, the most ever.
U.S. shoppers will spend $135 billion online in November and December, representing 13.4% of all holiday sales, up from 12.3% a year ago, according to EMarketer. The shopping season is also shorter this year with six fewer days between Thanksgiving and Christmas than last year.Like This Post