Cyber Monday projected to break records with $7.8 billion in online sales – CNET

Online Retailers Offer Holiday Sales On "Cyber Monday"

Shoppers already spent billions online on Black Friday and Thanksgiving Day.

Justin Sullivan / Getty Images

Cyber Monday is underway and bargain hunters have already spent millions on what could be the largest online shopping day in US history.

As of 7 a.m. PT on Monday, online shoppers have spent $531 million, according to Adobe Analytics, which tracks e-commerce transactions across 80 of the top 100 US retailers. Adobe expects Cyber Monday sales to grow 17.6 percent year over year to $7.8 billion. 

“The entire holiday season continues to see vigorous growth with Cyber Monday expected to be the largest US online shopping day in history,” Taylor Schreiner, director of Adobe Digital Insights, said in a statement. 

Online spending in the US also hit new highs on Black Friday and Thanksgiving Day. Online sales for Black Friday reached $6.22 billion in the US, up 23.6 percent from a year ago and a new record high, according to Adobe Analytics. In 2017, Black Friday shoppers spent $5.03 billion online.

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Adobe said 33.5 percent of online sales the Friday after Thanksgiving came from mobile devices, compared with 29.1 percent on last year. Black Friday was also the first day ever to see more than $2 billion in sales coming from phones alone, according to Adobe.

“Retailers have done their part to build better mobile experiences for consumers and turning nearly 10 percent more smartphone visitors into buyers this Black Friday versus last,” said Schreiner.

Laptops and streaming devices such as Roku, Chromecast and Amazon Fire TV were among the top selling products on Black Friday, according to Adobe.  Top selling video games included Red Dead Redemption 2Let’s Go Pikachu and God of War.

Online spending on Thanksgiving Day hit $3.7 billion in the US, topping last year’s record of $2.87 billion, according to Adobe Analytics. Since Nov. 1, US consumers have spent $38 billion online.

First published Nov. 24, 11:51 a.m. PT.
Update, 2:47 p.m. PT: Adds more information from Adobe.
Update, Nov. 26 at 9:02 a.m. PT: Adds Cyber Monday morning totals.

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