Cyber Monday sales on track to break records

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Cyber Monday sales on track to break records

By Marianne Wilson - 11/27/2018
Cyber Monday sales were even better than expected, fueled by a surge in mobile commerce.

The online shopping event was on track to hit a record $7.9 billion by the end of the day, representing a 19.7% increase over last year, according to data from Adobe Analytics (data is as of 7:00 p.m. ET.) Mobile transactions surged 55.6%.

Cyber Monday sales topped $7.9 billion, according to Adobe Analytics data, “making it the single largest shopping day in U.S. history,” said John Copeland, head of marketing and customer Insights at Adobe. “Sales coming from smartphones hit an all-time high of $2 billion and we saw a significant spike in the buy online, pickup in-store trend.”

Additional Cyber Monday findings from Adobe include:

•Golden Hours of Retail: The three hours between 10:00 p.m. and 1:00 a.m. ET on Cyber Monday were expected to drive $1.7 billion in online sales, roughly $300 million more than an average full day during the year.

•Out-of-Stock Levels: 2.4% of product page visits saw an out-of-stock message on Cyber Monday, up over a season average of 2.1%. This cost retailers up to $187 million in potential sales. In comparison, Thanksgiving saw 3.3% and Black Friday saw 2.8%, costing retailers up to $120 million and $177 million, respectively.

•Main Sales Drivers: On Cyber Monday, direct website traffic ranked highest for driving revenue at 25.3% share of sales (down 1.2% YoY), followed by paid search at 25.1% (up 7.4% YoY), natural search at 18.8% (down 2.8%), and email at 24.2% (up 0.5%). Similar to past years, social media continued to have minimal impact on online sales, at a 1.1% share.

This is a developing story. Check back for updates.

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