Cyber Monday Is Stacking Up
Cyber Monday figures are looking impressive as the day starts off to the tune of $840 million in sales. The day is supposed to end with figures exceeding a staggering $6.6 billion making it the most profitable day in online sales history.
All of these impressive figures have originated from Adobe. Adobe extrapolates the information from information provided by online transactions from the top online retailers. As expected, Amazon sales account for a large percentage of all the Cyber Monday sales. The projections for the 2017 holiday season exceed those for 2016 by more than $10B.
With such impressive figures at hand, it is interesting to note how people are making online purchases. According to a report by Adobe, up to half of all visits are coming from mobile devices. Almost 40 percent of all sales are originating from mobile devices, a figure larger than ever.
The most purchased items this season are apparel, accessories and home goods. Electronics comes in at a mere sixth place in consumer purchases. This contradicts the impression that the word cyber in Cyber Monday is derived from electronics sales. In fact the word was coined to illustrate how consumers are buying and not what they are buying. Shopify, who tracks sales by the minute, reported $280,000 in sales per minute, but expected that number to reach $1 million per minute for the peak traffic period.
The figures for 2017 are still coming in. Updates to these figures and data will be posted.
Cyber Monday boosts financial markets