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Mobile-Savvy Millennials Drive Cyber Monday Jump

Nov 30, 2017 4:04 AM   By Rapaport News
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Cyber Monday sales rose to record levels this year, with millennial consumers driving growth through transactions on their mobile devices, according to Adobe Digital Insights.

Sales rose 17% to $6.59 billion as at 10 p.m. EST on the Monday after the Thanksgiving weekend, which is traditionally the busiest day of the year for online retail in the US, the data company said this week.

“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,” said Mickey Mericle, vice president for marketing and customer insights at Adobe.

Mobile devices accounted for 47.4% of visits to retail sites, with 39.9% of these from smartphones and 7.6% from tablets. Some 33% of revenue came from mobile sales, Adobe added.

“Millennials were likely another reason for the dramatic growth in mobile, with 75% expecting to shop via their smartphone,” noted Mericle. “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.”

In total, more than 174 million Americans shopped in physical stores and online over the Thankgsiving weekend, including Black Friday and Cyber Monday, compared with an earlier estimate of 164 million, according to the National Retail Federation (NRF).

Good weather across the country, low unemployment and strong consumer confidence resulted in consumers getting started on their holiday-shopping lists in stores and on the web during the long weekend, explained Matthew Shay, CEO of the NRF.
Tags: Adobe, Adobe Digital Insights, black friday, cyber monday, holiday sales, holiday shopping, holidays, Matthew Shay, Mickey Mericle, Millennials, mobile shopping, National Retail Federation, NRF, online retail, Rapaport News, retail, smartphones, Thankgsiving
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