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November 26, 2018 11:10 pm

Cyber Monday Is Set To Be a $7.8 Billion Day, Breaking Online Records

According to Adobe Analytics, shoppers are expected to spend $7.8 billion on Cyber Monday, 18.3 percent more than in 2017. "The sweet spot will fall between 10 p.m. and 1 a.m. EST, Adobe says, when it's anticipated shoppers will spend $1.6 billion -- about $200 million more than what retailers would see during a typical whole day any other time of the year," reports USA Today. From the report: But at a time when shoppers can buy products ranging from dolls to detergent by tapping on a tablet or smart phone, Black Friday and even Thanksgiving are gaining on Cyber Monday to become banner days for online shopping. Retailers saw $6.22 billion in digital sales on Black Friday, 23.6 percent more than last year and the most ever on that day, Adobe says. Meanwhile, Thanksgiving Day experienced the biggest single-day surge in online shopping history, leaping 28 percent over the holiday in 2017 to $3.7 billion. Smartphones are increasingly the shopping gadget of choice. Mobile sales were expected to total more than $2 billion on Monday, Adobe says. And the more than $1 billion in smartphone sales on Thanksgiving were a record for that day. Besides enabling shoppers to make purchases any time, anywhere, shopping via smartphone has also taken off because it's become simpler and faster.

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