Cyber Monday online sales hit record $9.4 billion, boosted by late-night spending spree, Adobe says

[tacobell fan]

• Online shoppers spent $9.4 billion on Cyber Monday, according to data from Adobe Analytics.
• Late night shoppers boosted the total by spending $2.9 billion online between 10 p.m. and 2 a.m.
• So far, holiday shoppers have spent $81.5 billion online between Nov. 1 and Dec. 2, according to Adobe.

 

[tacobell fan]

Cyber Monday shoppers spent a record $9.4 billion online, up 19.7% from a year ago, according to data released by Adobe Analytics.

Adobe, which monitors the online transactions of 80 of the top 100 web retailers in the United States, was initially predicting that Cyber Monday online sales would hit $9.4 billion but preliminary results suggested that sales fell short of estimates.

 

But the numbers got a boost from late night shoppers. Between 10 p.m. and 2 a.m., consumers spent $2.9 billion online — nearly a third of the day’s total revenue.

In addition to buying more items, Cyber Monday shoppers were also buying pricier products. Adobe found that the average consumer’s online shopping cart was 6% bigger at checkout than last year.

Top-selling products included Frozen 2 toys, L.O.L. Surprise dolls, the Nintendo Switch, Samsung TVs and Apple laptops.

Retailers with more than $1 billion in annual revenue saw online sales jump 540% compared to an average day, Adobe said. Smaller retailers with less than $50 million in yearly sales also benefited from the shopping holiday, seeing a 337% increase.

E-commerce giant Amazon did not release any data about its Cyber Monday sales but said that the top categories sold on its site were toys, home, fashion and health and personal care. Top toys sold between Black Friday and Cyber Monday on Amazon included Monopoly Game: Disney Frozen 2 Edition and Lego Star Wars Darth Vader’s Castle.

 

Adobe is forecasting that online sales for the entire holiday season will hit $143.8 billion. So far, shoppers have spent $81.5 billion online between Nov. 1 and Dec. 2, according to Adobe.

Online shopping on Black Friday hit a record of $5.4 billion, up 22.3% from a year ago, Adobe said. But both Thanksgiving and Black Friday online sales fell short of Adobe’s initial estimates.