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.

Smartphones were the device of choice with mobile transactions raking in a record $3.1 billion — the highest amount ever tallied using the ubiquitous devices.

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.

Amazon announced that Cyber Monday scored the single biggest shopping day in the company’s history, based on the number of items ordered worldwide. Amazon also 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.

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.

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.

“The coming days will reveal if retailers will extend their holiday sales more than years past due to the shortest possible remaining shopping season till Christmas,” said Taylor Schreiner, principal analyst and head of Adobe Digital Insights. “Whatever the case, companies offering fast fulfillment options like free one-day shipping or buy-online-pickup-in-store (BOPIS) will be well-positioned to help consumers purchase what they want in the few weeks left before Christmas.”

Source: CNBC
Source: Thet Canada