Cyber Monday 2017 sets new record at $6.59 billion, data shows
29 November, 2017, 01:04 | Author: Regina Lloyd
That marks a 16.8 percent increase from a year ago, and makes Monday the largest online shopping day in US history.
The National Retail Federation, citing lower unemployment and higher consumer confidence, expects overall holiday spending in November and December to rise between 3.6 percent and 4 percent, up from $655.8 billion a year ago.
U.S. stores offered deep discounts, entertainment and free gifts to lure bargain hunters on Black Friday, the traditional start of the holiday retail season, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases.
Black Friday 2017 was all about digital sales. According to data from Adobe Digital Insights, US shoppers parted with $5 billion in spending over a 24 hour period, 16.9% up on past year.
That's an increase of 16.9 percent from previous year, the company said.
Top sellout products: The items that sold out the quickest these holidays were accessories (29 percent), tops (20 percent), footwear (17 percent), dresses (8 percent) and bottoms (8 percent).
According to data from Adobe Digital Insights, which tracks 80% of online spending at America's 100 largest retail websites, Cyber Monday will be even bigger than Black Friday, bringing in as much as $6 billion in digital sales.
Mobile posted new records in representing 47.4% of all visits including 39.9% for smartphones and 7.6% for tablets, while it took in 33.1% of revenue that was distributed by 24% for smartphones and 9% for tablets. Online retailers at first trailed behind traditional stores with only 3,625 establishments in 2001. But Salesforce, surveying the signs so far, claims that "when it comes to holiday shopping, shoppers now overwhelmingly choose digital".
"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", said Mickey Mericle, vice president, Marketing and Customer Insights at Adobe. Well, bricks-and-mortar store foot fall was down, albeit by less than one percent year-on-year, according to ShopperTrak.
"There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail, and the fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and, when done right, profitable", Field said in a statement.
Overall web traffic to retail sites increased by 11.9 percent on Cyber Monday, with the season average at 5.7 percent. They also believe e-tailers are providing consumers with the hot products they want at good discounts.
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The federation said they would release the weekend's shopping results on November 28, the day after Cyber Monday. One survey found almost half of respondents planned to skip Black Friday and Cyber Monday altogether this year.
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