Cyber Monday Hits New Record At $6.6 Billion

Is brick-and-mortar retail making a comeback
Macy's credit card processors stop working on Black Friday
Author

29 November, 2017

Adobe announced on Tuesday in its most recent report that Cyber Monday reached a new record of $6.6 billion in sales that makes it the largest online USA sales day in history.

The holiday shopping season from November 1 to November 27 drove a total of $50 billion in online revenue.

Macy's said about 16,000 shoppers had been lined up outside its flagship Herald Square store in Manhattan when doors opened at 5pm on Thursday for its Black Friday eve sale. Cyber Monday sales will be even bigger than Black Friday sales, experts say.

Adobe projected internet sales would still reach a record $5 billion by the end of the night, with online retailers forecast to rake in an additional $6.6 billion on Cyber Monday. Paid search saw the strongest growth at 8.3 percent year over year.

"Shopping and buying on smartphones is becoming the new norm and can be attributed to continued optimizations in the retail experience on mobile devices and platforms", said Mickey Mericle, vice president, Marketing, and Customer Insights at Adobe.

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After "black Friday" comes "cyber Monday", in this connection experts predict that residents will spend 6.6 billion dollars, and it can make this day the most ambitious in the history of sales. Mobile set a new record representing 47.4 percent of visits (39.9 percent smartphones, 7.6 percent tablets) and 33.1 percent of revenue (24.1 percent smartphones, 9.0 percent tablets). That would still mean that only around 15% of all sales are digital if you take into account that the National Retail Federation (NRF) predicted $682 billion in total sales for the season. That will help their traditional brick and mortar stores compete with online shopping.

"There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail, and the fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and, when done right, profitable", said Brian Field, senior director of advisory services for ShopperTrak.

Brick-and-mortar stores still saw strong sales - but they did not increase compared to a year ago, according to preliminary data.

Cyber Monday dates back to 2005 when it was first used as a promotion for Shop.org.

In the United States, early reports indicate a healthy 16% to 18% rise in online sales this Black Friday sales compared to 2016. Over the next few days we'll get a lot of data and claims and counterclaims, but those early figures from Adobe Digital suggest that it's been a boom year for online retailers, but it's also clear that the stores still have a role to play.


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