Consumers Spent A Record-Breaking $10.8 Billion On Cyber Monday

Words by Retail Bum

Consumers Spent Record-Breaking $10.8 Billion On Cyber Monday
Consumers Spent Record-Breaking $10.8 Billion On Cyber Monday

This year’s Cyber Monday saw record-breaking sales, with consumers spending $10.8 billion shopping online. 

While the total consumer spend fell short of the projected $12.7 billion, this year’s Cyber Monday was still the largest U.S. internet shopping day ever, according to Adobe Analytics, which analyzes web transactions of 80 of the top 100 U.S. retailers. 

“Throughout the remainder of the holiday season, we expect to see record sales continue and curbside pickup to gain even more momentum as shoppers avoid crowds and potential shipping delays,” said Taylor Schreiner, a director at Adobe Digital Insights.

Consumer spending picked up during the final hours of sales on Cyber Monday, between 7 PM and 11 PM pacific time, accounting for 25 percent of the day’s revenue. Consumers spent a total of $2.7 billion in that time frame.  

While consumers shopped more online, a significant share of them preferred to leverage omnichannel features to safely pick up their orders. The use of curbside pickup was up by 30 percent this year. 

Consumers’ use of mobile apps was up as well, with smartphones being used for 37 percent of sales made on Cyber Monday. This increase in mobile devices’ use underpins retailers’ efforts to engage their shoppers through their mobile apps better. 

This year, Thanksgiving Day and Black Friday also saw record sales. Overall, consumer spend increased by 22 percent year-over-year on both days.

MUST READS
No more posts to show, explore other topics: