The dust has settled on the biggest shopping weekend of the year, and early data shows that Cyber Monday broke records with total sales reaching an estimated $9.4 billion.
A report from Adobe Analytics shows trends from yesterday’s online shopping frenzy reveal that 33% of shoppers used their smartphones this Cyber Monday, resulting in a record $3 billion purchased by mobile. In total, this year’s Cyber Monday sales were up an estimated 19% from last year, which saw $7.9 billion in sales.
During the peak shopping hours of Cyber Monday, which Adobe Analytics labels as between 8 p.m. and 9 p.m. PT, consumers spent an average of $11 million per minute. The Cyber Monday deals started earlier this year to accommodate a larger shopping window.
“Retailers unlocked sales earlier to combat a shorter shopping season, while continuing to drive up promotion of the big branded days including Black Friday and Cyber Monday,” said John Copeland, head of marketing and consumer insights at Adobe, in the report. “Consumers capitalized on deals and ramped up spending, especially on smartphones, where activity increased on days when shoppers were snowed or rained in.”
So what were people spending all this money on? Adobe Analytics reports that top-selling products were a mix of toys and electronics. This includes Frozen 2 toys, virtual reality devices, the Nintendo Switch, LOL Surprise Dolls, Apple laptops, Nerf products, video games (specifically Madden 20 and Jedi Fallen Order), and Samsung TVs. According to the report, televisions had the best Cyber Monday deals, with consumers saving an average of about 19%.
The report also points out overall growth in a newer trend in Cyber Monday shopping, which is buy online, pickup in-store (BOPIS). There was 41% growth in this trend for Cyber Monday shoppers.
Adobe Analytics’ Black Friday numbers are impressive as well: This year’s Black Friday sales reached a record $7.4 billion in the U.S.
Overall, this holiday season has generated $81.5 billion in online sales so far. That figure factors in November 1 through December 1, so the total can only grow as last-minute shoppers scramble to purchase their gifts over the next three weeks or so.
Adobe Analytics’ retail report is one of the most comprehensive sets of insights of its kind in the industry. The data comes from an analysis of more than 1 trillion visits to retail sites and transactions from 80 of the top 100 U.S. online retailers.
- Best Cyber Monday deals 2020: When is it and what can we expect?
- The best time to buy appliances (and the worst time to buy)
- Amazon Prime Day 2020: When is it, and what can we expect?
- Best Black Friday Laptop Deals 2020: What To Expect
- Best Prime Day Kindle deals 2020: What to expect