An independent contractor for FedEx Corp. will unload packages from a delivery truck on Monday, December 2, 2019, Cyber Monday.
Michael Nagle | Bloomberg | Getty Images
Holiday shoppers went online on Monday, spending $ 10.8 billion, breaking a record for the U.S.’s largest online shopping day ever, according to Adobe Analytics.
Cyber Monday spending rose 15.1% year-on-year, according to Adobe, which analyzes 80 transactions from the top 100 online retailers in the United States. This was not in line with Adobe’s original forecast of $ 12.7 billion. The company has revised its cyber Monday estimate downwards in recent days.
Adobe has cut its online sales forecast for the entire holiday season to $ 184 billion, up 30% from last year. He originally estimated online sales at $ 189 billion.
This year, shoppers started buying gifts earlier than ever before as retailers distributed stores during the coronavirus epidemic to avoid crowded stores. With such an extended holiday shopping period, it’s hard to gauge what this one day says about the entire season.
For many retailers, Cyber Monday has a diminished role. Big box retailers like Walmart and Target started their deals in mid-October to coincide with Amazon Prime Minister’s Day, and plan to have even more in the coming weeks. On Black Friday – a one-day event that usually focuses around stores and malls – customers made a lot of purchases on the companies ’websites, in person.
The move to online shopping has also diminished the importance of some typical indicators that companies, analysts and investors are watching: long lines and a large crowd in department stores on Black Friday.
“For the remainder of the holiday season, record sales are expected to continue and sidewalk recording will gain even more momentum as customers avoid the crowds and possible delivery delays,” said Taylor Schreiner, director of Adobe Digital Insights.
On Cyber Monday, Adobe said the number of orders placed on orders rose 30 percent from a year earlier as shoppers found a way to securely retrieve their items purchased online that day.
Many have also bought their smartphones as retailers have invested more in their mobile apps. Cyber saw thirty-seven percent of digital sales on mobile devices on Monday, Adobe said.
In the last hours of cyber Monday, between 7pm and 11pm Pacific time, consumers spent $ 2.7 billion, which is 25% of daily revenue, the company said.
Thanksgiving Day and Black Friday also broke records for online purchases, according to Adobe. Online spending rose nearly 22% year-on-year to $ 5.1 billion on Thanksgiving Day. On Black Friday, online spending jumped about the same amount to a total of $ 9 billion.
As shoppers bought popular items like Hot Wheels, Lego Kits, and Apple AirPods, Adobe found that many shopped on their smartphones and more and more people made their online purchases at the curb.