Wednesday, 17 January 2018
Latest news
Main » Record-setting Cyber Monday expected

Record-setting Cyber Monday expected

29 November 2017

The National Retail Federation, citing lower unemployment and higher consumer confidence, expects overall holiday spending in November and December to rise between 3.6 percent and 4 percent, up from $655.8 billion past year.

Adobe estimates that the largest price drops on Cyber Monday were for toys with an average discount of 18.8 percent, followed by television sets at 21.1 percent and computers at 14.7 percent. According to data from Adobe Digital Insights, US shoppers parted with $5 billion in spending over a 24 hour period, 16.9% up on a year ago.

Last year, $658 billion was spent on holiday shopping, the National Retail Federation said, noting that online sales accounted for $123 billion of that total - and the share of online sales this year is expected to increase. Adobe Analytics is projecting Cyber Monday 2017 could be the biggest US online shopping day ever.

Deal-hungry customers spent as much as $1 million per minute on the Internet at the height of Black Friday, e-commerce platform Shopify said.

Mitsubishi Materials says units falsified product data
Boeing Co is now looking into the issue, a company spokeswoman said. Around half of 29 potentially affected customers have been informed.

Digital transactions on Monday reached a record $6.59 billion, Adobe Insights unveiled Tuesday in its final update on the holiday weekend. The practice, known as showrooming, has been hard to combat.

Websites offer price guides of discounted merchandise at competing websites.

Retailers pushed more sales online on Cyber Monday, but also morphed toward offering deals all week. "Millennials were likely another reason for the dramatic growth in mobile, with 75 percent expecting to shop via their smartphone". "This year, mobile shopping was dominant both in the morning and afternoon". "While the retail industry has banked on aggressive discounts weeks before Black Friday and Cyber Monday to boost consumer spending, they need to make sure that this does not sacrifice margins in the long term". Online retailers at first trailed behind traditional stores with only 3,625 establishments in 2001. Fundivo, a small business loan adviser, found that by 2015, 49 percent of Americans said they have shopped on Cyber Monday. People not only buy online. But Salesforce, surveying the signs so far, claims that "when it comes to holiday shopping, shoppers now overwhelmingly choose digital". The brick-and-mortar retailers are left with nearly no defense of their century-old business model.

Record-setting Cyber Monday expected