Business General Updates

Cyber Monday Sales Jump 20% to Record $9.4 Bn, Matching Predictions as Shopper Numbers Surge

Cyber Monday sales rose nearly 20% to reach a record $9.4 billion, Adobe Analytics said Tuesday, while separate data showed a surge in the number of people who shopped over the holiday weekend.

The result for Monday matched Adobe’s projections, which were boosted by sales of LOL Surprise Dolls from privately held MGA Entertainment, toys related to Walt Disney’s (DIS) “Frozen 2” film, the Nintendo Switch videogame system, virtual-reality devices, and Samsung televisions.

Adobe is predicting online holiday season sales of $143.8 billion, which would be up from $126 billion last year. It said Tuesday that shoppers have spent $81.4 billion from Nov. 1 through Monday.

From Nov. 1 through Monday, Adobe said desktop computers accounted for 59% of purchases and 37% of traffic while smartphones provided for 36% of purchases on 58% of traffic. Tablets accounted for 5% of purchases and traffic.

Also, 189.6 million consumers shopped from Thursday through Monday, up 14% from 2018, according to a survey by the National Retail Federation and Prosper Insights & Analytics.

They said 124 million people shopped in stores, 142.2 bought from retailers’ websites and 75.7 million did both.

The firms said shoppers on average spend $361.90 over the five-day period, up 16% from last year, adding that $257.33 of the total went towards gifts. Consumers between 25 and 34 years of age spent $440.36 while those 35 to 44 spent $439.72.

Consumers who shopped in both stores and online spent $366.79, according to the NRF and Prosper.

They said that Black Friday beat out Cyber Monday for the first time as the busiest day for online shopping, with 93.2 million shoppers compared with 83.3 million. Saturday saw 58.2 million online shoppers, Thanksgiving Day posted 49.7 million, and Sunday saw 43.1 million.

The NRF expects holiday sales between Nov. 1 and Dec. 31 of $727.9 billion and $730.7 billion.

Meanwhile, Salesforce (CRM) said e-commerce revenue on Cyber Monday rose 11% from last year while Black Friday saw a 14% advance. Thanksgiving Day sales rose 16%.

About the author

Daniel Serrano

Daniel Serrano

Daniel Serrano had acquired considerable experience in writing and editing publications before recruited by Expert Recorder news portal as Editorial Manager. His key task is to conduct effective business reviews based on the most recent business strategies. Due to his stronghold and understanding over finance, marketing, business, and trade-related topics, he is known as a business counselor among the staff. His expertise in business-related topics is quite impressive. His business-related concepts are on fingertips, which aids in illustrating the business-related articles in brief and defined way, clear to even an amateur. He pursued his post-graduation in Finance from a UK-based university.