Published: Wed, December 04, 2019
Tech | By Anita Cain

Cyber Monday sets record with $9.2B in online sales

Cyber Monday sets record with $9.2B in online sales

Major markets tumbled more than 1 percent after the news.

"We're focused on making this holiday season more convenient than ever for our customers, especially given how short this holiday shopping season will be", said Jeff Wilke, CEO Worldwide Consumer, Amazon.

The $3 billion of products purchased via smartphones accounted for about one-third of all sales. For the full year, Adobe expects holiday spending to reach $143.8 billion, up from $126 billion last year.

"Online shopping and deals that span well beyond Thanksgiving weekend have calmed the commotion of Black Friday, presenting younger consumers with a more dignified shopping event", the market research firm NPD said in a release on Wednesday to the NYT.

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NRF also reported that in 2018, 25% of those people shopped online only and 21% shopped in stores only, and 54% shopped both online and in stores. They saw a 71% boost in revenue so far, while the smaller online retailers saw a 32% boost. The idea was to encourage people to shop at work, where faster connections made it easier to browse, when they returned from the Thanksgiving break.

And the deals don't end there - there are plenty of other great bargains now taking place. And it hit a new Black Friday record.

Cyber Monday had the best deals for televisions with average savings above 19 percent.

The holiday shopping season, from November 1 through December 1, has generated $72.1 billion online to date, at 16.3 percent growth year-over-year, topping Adobe's forecast of 14.1 percent.

Amazon's corporate headquarters in Seattle, where workers were busy managing the biggest e-commerce site in the world, on the busiest online shopping day of the year. Other top selling toys include L.O.L Surprise Dolls and Paw Patrol. That's 57% off its regular price of $279, and cheapest we've ever seen it on sale for.

Last but not least, another trend Adobe is tracking points to why the biggest online retailers like Amazon are getting increasingly involved in the advertising business.

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