Cyber Monday Is on Track for $7.8 Billion in Sales
Holiday shoppers are showing no sign of buyer fatigue as Cyber Monday sales flood the web.
Adobe reports that as of 10 a.m. ET, consumers had spent $531 million on online sales and the retail industry is on track for a $7.8 billion day. If that proves true, it will be an 18.3% improvement over the 2017 numbers, making it the biggest online shopping day in U.S. history.
Adobe Analytics analyzes data from 80 of the top 100 U.S. online retailers, looking at more than 1 trillion visits to retail sites and 55 million different items to make its forecasts and real-time sales updates.
Smartphones, it seems, will be one of the most popular items with shoppers Monday. The company says it expects online sales in the category to top $2 billion. Other hot items include Little Live Pets, Nintendo Switch, streaming devices, and Beats headphones.
While plenty of people sneak in some shopping while they’re at work, the “golden hours” of retail are between 10 p.m. and 1 a.m. ET, as shoppers cram in as many last-minute deals as they can. More of them will be using their phone as their primary shopping tool, also. Smartphones account for 58.9% of visits to retail sites so far.
One factor that may have contributed to the reduced number of people in stores? More people are shopping on Thanksgiving.