Cyber Monday is on target to be the largest online sales day ever

cyber monday 205 sales estimates couple ordering online laptop 123rf

When it comes to post Thanksgiving sales, Black Friday usually gets all the attention, but Cyber Monday is certainly no slouch. Cyber Monday is the day in which most retailers offer tremendous savings for online purchases, and consumers are gobbling them up big time this year.

According to Adobe, Cyber Monday will likely shatter previous records and is on target to be the largest online sales day ever. As of 10:00 a.m. ET, consumers had already spent close to $500 million, and the company is estimating that the day’s total will be well over $3 billion. That would be a 14 percent increase over last year.

The downside to all of this is that some consumers end up losing out on these deals because there is less supply. Out-of-stock levels hit an all time high today with 15 out of 100 product views showing as out of stock in the morning. This is two-and-a-half times the normal rate.

Star Wars toys seem to be leading the way. The R2D2 Interactive Robotic Droid,  a Toys R Us exclusive, is very hot right now, as are Star Wars: Episode VII The Force Awakens action figures, along with the Lego Star Wars Advent Calendar.

However, there are plenty of deals enticing consumers today not related to Star Wars. Gamers are gobbling up the PlayStation 4 and Xbox One bundles that include either Disney Infinity 3.0, Star Wars: Battlefront, or Fallout 4.

While most consumers are using their desktops to make their purchases, mobile users continue to rise, with 53 percent of all shopping visits coming from mobile devices, accounting for 32 percent of the total sales. The percentage is much higher for actual visits when compared to sales dollars because a lot of consumers will use their phone or tablet to research products, and then use their desktop to make the actual purchase. Of the 32 percent in total sales, 20 percent were from phones, while the other 12 percent came from tablets.

Adobe’s estimates come from its data tracking of over 4,500 U.S. retailers’ websites, which include 80 percent of all online transactions from the top 100 U.S. retailers. The company saw 50 million visits from midnight to 10 a.m. ET this morning.