- This year’s Cyber Monday is predicted to be the biggest online shopping day in US history.
- The day is expected to generate $US7.8 billion in sales, up nearly 18% on last year, according to an Adobe Analytics report.
- This comes despite holiday shopping becoming more spread out, with consumers increasingly buying online on Black Friday and even on Thanksgiving Day.
- Retailers are offering huge deals to keep Cyber Monday strong in this changing environment.
- Also read: Our Picks team rounds up the 30 best deals and sales online, period
Cyber Monday 2018 is predicted to be the biggest online shopping day in US history, bringing in more money from online sales than any previous Cyber Monday or Black Friday.
Cyber Monday is expected to generate $US7.8 billion in sales, up nearly 18% on last year, according to a new report from Adobe Analytics.
The lofty expectation comes even as shoppers increasingly spread their online holiday shopping over several days.
Black Friday pulled in $US6.22 billion in online sales, Adobe Analytics said, according to CNBC, up 23.6% from a year ago.Thanksgiving Day itself has become a big shopping day too, attracting an estimated $US3.7 billion in sales.
Retailers like Walmart and Amazon are offering huge deals intended to stop Cyber Monday from getting killed.
Ray Wimer, an assistant professor of retail practice at Syracuse University, told Business Insider in an email that the two events had merged as shoppers’ habits shifted online.
“Black Friday is really no longer a one-day shopping extravaganza, it really signals a kickoff to a four-day promotional period that concludes on Cyber Monday,” he said.
Black Friday saw a record of more than $US2 billion in sales done through smartphones alone, the Adobe report said, per CNBC.
But even if it does have the US shopping calendar sewn up, Cyber Monday is still second string to the biggest online shopping day in the world.
Cyber Monday is eclipsed by Singles Day, a Chinese shopping event that attracts almost four times the sales volume.
With $US30.8 billion made in sales over 24 hours this month from a single company – the e-commerce platform Alibaba – Singles Day celebration is easily the biggest shopping event on earth.
Now tell us about your holiday shopping!
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