According to Adobe Analytics, Internet purchases are expected to reach $9.4 billion for US consumers on Cyber Monday. Over last year’s record-setting purchase of $7.9 billion, it’s a jump of 19%. The report measure transactions of largest US online retailers.
Annually, this period is predicted to hit such a record. US online sales also make their e-commerce a very lucrative period to boost their sales. US online merchants view this period as huge gains.
The report also revealed that on Friday, shoppers spent $7.4 billion online while $4.2 billion was spent online on Thanksgiving Day. L.O.L Surprise Dolls, FIFA 20 video games, and Frozen 2 toys were the biggest selling items on Black Friday. Under electronics, the most popular items were - AirPods, Samsung TVs and Apple laptops.
As per the Adobe report, a total of $143.8 billion is expected to be spent on shopping during the entire holiday season.
International Council of Shopping Centers, released a study on Sunday. It stated that over thanksgiving weekends, an estimated 160 million people went to stores and spent on average just over $500 each. The number was 151 million last year.
Vivek Pandya, lead analyst, Adobe said: "The weekend between Black Friday and Cyber Monday is emerging as a truly lucrative period for online commerce."
Tags : Cyber Monday, US, e-commerce, Black Friday, Vivek Pandya,