Cyber Monday sales on track to top $9 billion
A combination of harsh winter weather and the popularity of shopping via smartphone is helping
Cyber Monday is far from over, but analytics show a combination of harsh winter weather and the popularity of shopping via smartphone is putting the day on track for $9.4 billion in sales, which is nearly 19 percent year-over-year growth.
Cyber Monday had already reached $473 million in online sales as of 9 a.m. EST Monday, according to Adobe Analytics.
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"Retailer fears of a shorter season meant that deals came much sooner than usual, and consumers took notice," said Taylor Schreiner, head of Adobe Digital Insights. "In some areas of the country, adverse weather in the form of snow and heavy rain meant that many opted to stay home instead and grabbed the best deals online. Just look at Black Friday, which brought in $7.4 billion online and is just below last year's Cyber Monday at $7.9 billion."
In fact, states with more than 2 inches of snow on Black Friday saw a 7 percent jump in online sales, according to Adobe. Black Friday shoppers spent a record-breaking $7.4 billion, according to data published by Adobe Analytics.
Then Small Business Saturday smashed records with $3.6 billion in online sales.
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The full holiday season has marked 16.3 percent year-over-year growth with $72.1 billion spent online between Nov. 1 and Dec. 1.
Adobe measured transactions from 80 of the top 100 U.S. online retailers.
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