Cyber Monday Online Sales Expected to Hit a Record $3.3 Billion
Cyber Monday is off to a good start for online retailers. Early data from Adobe (ADBE) is predicting that holiday shoppers will spend a record $3.36 billion in online purchases, up 9.4% from last year’s holiday.
Already, Cyber Monday has brought in $540 million so far between midnight and 10 a.m. ET on Monday.
This holiday season, online retailers will likely be celebrating. Online holiday shopping has accounted for $36.5 billion in online revenue, a 7.1% increase annually in sales. And 26 out of 27 days this holiday season have generated $1 billion each day.
Black Friday, the Friday after Thanksgiving, set a new record by surpassing the $3 billion-mark for the first time with $3.34 billion in online sales, up 21.6% from last year. Thanksgiving Day online sales were just shy of the $2 billion at $1.93 billion, an 11.5% increase from last year.
Top-selling electronics on Cyber Monday morning have been the Sony PlayStation 4 (SNE), Microsoft Xbox (MSFT), Samsung 4K TVs, Apple (APPL) iPads, and Amazon Fire tablets (AMZN). Popular toys include Lego sets, Shopkins, and Barbie dolls.
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This holiday season has also been record breaking for mobile shopping. Black Friday became the first day in retail history to drive over $1 billion in mobile revenue at $1.2 billion, up 33%. Thanksgiving saw $771 million in sales come from mobile phones.
But retailers can’t celebrate fully yet. There are still a few weeks left in the holiday shopping season, but the numbers are optimistic. Forrester estimated that consumers will spend a record-breaking $112 billion online in November and December, a jump of 13% from the $99 billion spent in the same period in 2015.