Across the four day weekend, including Thanksgiving and Black Friday, online sales jumped 15 percent over previous year totaling $11 billion, accounting for almost 30 percent of November’s total of $39.5 billion.
Advertisement
Online sales make up 10 percent of overall retail sales, but that increases to 15 percent during the holidays as online shoppers snap up Black Friday and Cyber Monday deals, according to research firm Forrester.
Mobile sales accounted for 26% of the record-breaking $3.07 billion spent on Cyber Monday this year, according to Adobe.
The term Cyber Monday was originated a decade ago, when United States retail companies noticed an increase of traffic during the online holiday shopping on the Monday, the first Monday after the Thanksgiving Day. Large retailers (average sales revenue of $25 million) saw 12 percent growth on Cyber Monday.
Granted, online sellers like Amazon have a big interest in keeping Cyber Monday strong, so they tend to save deals and inventory specifically for that day.
IBM meanwhile predicted Cyber Monday online sales would grow by more than 18 percent from past year, led by big-ticket items such as Samsung, Sony and LG televisions as well as Apple Watch and Beats headphones.
Cyber Monday refers to the Monday after Thanksgiving during which shoppers return to work, where many have high-speed connections. Whereas brick-and-mortar sales have slumped (at least on Black Friday), e-retail sales are humming along.
It’s Cyber Monday, which means shoppers’ credit cards might need a break by now.
Adobe’s report is based on aggregated and anonymous data from more than 125 million visits to 4,500 retail websites on Cyber Monday and uses its predictive model to forecast the remaining hours of the day. “These stellar online sales results are the result of tremendous improvements in all aspects of online shopping, online promotions, mobile-responsive websites and efficient logistics”.
Other online retailers had problems due to big demands, said BBC.
On social media, Ebay was the most mentioned retailer since Thanksgiving, with Amazon a close second.
To find and order what they wanted, shoppers more frequently used their mobile devices. “Our customers went from previously mostly searching and browsing on mobile, to making purchases at a much higher rate”. Similarly, Black Friday enjoyed a 14 percent growth in online sales by raking in $2.7 billion.
Advertisement
You can expect many more deals to be on offer, but also the hottest Holiday gifts are selling out quickly, and join the fate of Amazon’s Fire tablet.
