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Cyber Monday Smashes Online-Sales Record

Proceeds leap 20% to estimated $7.9 billion.
Nov 27, 2018 7:19 AM   By Rapaport News
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RAPAPORT...
 E-commerce sales jumped 20% year on year to $7.9 billion on Cyber Monday, making it the largest US online shopping day of all time, according to projections from Adobe Analytics.

The prior Saturday and Sunday also set a record for the biggest online shopping weekend in the US, raking in a combined $6.4 billion, the research group said Monday. Thanksgiving Day online sales grew 28% to $3.7 billion, while those on Black Friday surged 24% to $6.2 billion.

E-commerce proceeds are up 20% to $58.5 billion for the entire period from November 1 to 26, Adobe added.

For the first time, more than half of Cyber Monday buyers shopped on mobile devices, with 44% using smartphones to make purchases, while 8% bought via tablets. Adobe also reported a record 50% increase in the number of customers buying online and collecting their products in a store.

“Sales coming from smartphones hit an all-time high of $2 billion [on Cyber Monday],” said John Copeland, head of marketing and customer insights at Adobe. ”We [also] saw a significant spike in the ‘buy online, pick up in-store’ trend.”

Research groups have forecast strong increases in total retail sales over the holiday season. IBM predicted a 5.2% rise in jewelry purchases, and a 4.8% improvement overall, while the National Retail Federation expects growth of 4.3% to 4.8% for the period.

Image: Online shopping. (Shutterstock)
Tags: Adobe Analytics, cyber monday, ibm, John Copeland, National Retail Federation, Rapaport News
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