Advanced Search

Cyber Monday Smashes Online-Sales Record

Nov 27, 2018 7:19 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

 E-commerce sales jumped 20% year on year to $7.9 billion on Cyber Monday, making it the largest US online shopping day of all time, according to projections from Adobe Analytics.

The prior Saturday and Sunday also set a record for the biggest online shopping weekend in the US, raking in a combined $6.4 billion, the research group said Monday. Thanksgiving Day online sales grew 28% to $3.7 billion, while those on Black Friday surged 24% to $6.2 billion.

E-commerce proceeds are up 20% to $58.5 billion for the entire period from November 1 to 26, Adobe added.

For the first time, more than half of Cyber Monday buyers shopped on mobile devices, with 44% using smartphones to make purchases, while 8% bought via tablets. Adobe also reported a record 50% increase in the number of customers buying online and collecting their products in a store.

“Sales coming from smartphones hit an all-time high of $2 billion [on Cyber Monday],” said John Copeland, head of marketing and customer insights at Adobe. ”We [also] saw a significant spike in the ‘buy online, pick up in-store’ trend.”

Research groups have forecast strong increases in total retail sales over the holiday season. IBM predicted a 5.2% rise in jewelry purchases, and a 4.8% improvement overall, while the National Retail Federation expects growth of 4.3% to 4.8% for the period.

Image: Online shopping. (Shutterstock)
Tags: Adobe Analytics, cyber monday, ibm, John Copeland, National Retail Federation, Rapaport News
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.