Report shows consumers spent $6.59 billion on Cyber Monday

by Talk Business & Politics staff (staff2@talkbusiness.net) 43 views 

Online consumers spent a record-breaking $6.59 billion on Cyber Monday this year, up 17% from 2016, according to a report published by computer software company Adobe. They spent $5.03 billion on Thanksgiving Day and $2.87 billion on Black Friday.

Consumers spent more during the peak of Cyber Monday, 8 p.m. to 11 p.m., then they did on an average full day, according to Adobe.

The report projects holiday season online sales will ultimately top $100 billion. So far in November, $50 billion has been spent online, up 17% from last year.

Mobile shopping specifically was at an all-time high, according to Adobe. Mobile visits made up 47% of web traffic to retail sites on Cyber Monday, and mobile purchases made up 33% of online revenue. Smartphone traffic grew 22% over last year, while revenue coming from smartphones ($1.59 billion) grew 39%.

“Shopping and buying on smartphones is becoming the new norm and can be attributed to continued optimizations in the retail experience on mobile devices and platforms,” Mickey Mericle, vice president of marketing and customer insights at Adobe, said in a press release. “Consumers are also becoming more savvy and efficient online shoppers. People increasingly know where to find the best deals and what they want to purchase, which results in less price matching behavior typically done on desktops. Millennials were likely another reason for the dramatic growth in mobile, with 75% expecting to shop via their smartphone.”

Top sellers on Cyber Monday were Nintendo Switch and the video game Super Mario Odyssey, Microsoft Xbox One X, Sony Playstation VR, Apple AirPods, Apple iPads and Samsung Tablets, in addition to streaming devices like Google Chromecast and Roku, according to Adobe. Top toys included PJ Masks and Hatchimals & Colleggtibles figurines, Funko Pop and L.O.L. Surprise dolls, as well as Ride On Cars, according to the report.

Search drove the majority of online sales on Cyber Monday at 42%. Direct traffic and email each drove about one-quarter of sales.

The steepest discounts on Cyber Monday were in TVs (average discount of 21%), toys (19%) and computers at (15%). On Black Friday, the largest discounts were for TVs (21%) computers (16%) and toys (17%), according to Adobe.

Comments

comments