Adobe: Cyber Monday Spending Up 15% at Record $10.8 Billion

E-commerce sales on Cyber Monday (Nov. 30) set a new revenue record, topping $10.8 billion, which was up 15.1% from $9.39 billion during the previous-year period, according to new data from Adobe Analytics. The tally was below Adobe’s projected $12.7 billion estimate, which cites statistics from 80 of the top 100 online retailers.

Observers contend online spending on one-day sales events has been expanded by big-box stores throughout the year in response to Amazon Prime Days — tempering somewhat the impact of CyberMonday.

“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,” Taylor Schreiner, with Adobe Digital Insights, said in a video statement.

Regardless, consumers are increasingly using smartphones to conduct online purchases, with 40% of transactions on Black Friday and Thanksgiving conducted on portable devices. Adobe found that in-store and curbside pickup of online purchases increased 52% from last year.

ADI’s John Copeland said portable devices were used 60% of the time by people visiting and browsing retail websites buying assorted items such as toys and video games.

“It’s clear consumers have gotten a lot more comfortable shopping from their phones,” Copeland told CNBC, adding that top-selling items on Cyber Monday included limited availability of new game systems from Sony PlayStation and  Microsoft’s Xbox, as well as titles Call of Duty: Black Ops Cold War and Spider-Man: Miles Morales.

“If you can get them, you should grab them,” Copeland said.

He said social media is increasingly driving consumer traffic to retail websites, underscoring the power of so-called “influencers” and click advertising.

“Thanksgiving weekend through Cyber Monday, social media has driven 1-in-10 visits to retail websites,” Copeland said. “That’s 17% greater than last year. Retailers are figuring out how to leverage all the digital channels.”

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