US Cyber Monday online sales to reach record $ 7 billion

Last Updated: Tue, Nov 27, 2018 15:04 hrs
Black Friday

Washington: American consumers were on track to spend $7.8 billion in online shopping on Cyber Monday, up 18.3 per cent from last year, according to Adobe Analytics, which tracks 80 per cent of online transactions at 100 of the largest retailers in the US.

Cyber Monday, which falls on the first Monday after Thanksgiving Day and Black Friday, is considered the biggest online shopping day of the year, reports Xinhua news agency.

Last year, it hit a record 6.6 billion dollars in online sales.

With growing online sales, Black Friday might be stealing Cyber Monday's thunder. Online sales for Black Friday reached $6.22 billion, up 23 per cent compared with last year.

Smartphone-enabled purchases amounted to $2.1 billion, accounting for one third of the overall sales.

Figures from Internet Retailer, a publisher of e-commerce news and analysis, predicted that the total amount to be spent over the period between Thanksgiving Day and Cyber Monday will reach $21.6 billion.

For the whole holiday season, which will last until end of December, online sales could hit a record $124 billion, up by 15 per cent from last year, Adobe Analytics said.

Figures from market research firm eMarketer put overall US holiday online sales at around $123 billion, which accounts for 12 per cent of the estimated 1 trillion retail sales for this holiday shopping season.

According to an annual survey, US consumers will spend an average of $1,007 dollars during this holiday shopping season, up 4.1 per cent from last year, the National Retail Federation said earlier.