Cyber Monday Sales Hit $9.2 Billion in the US
Holiday sales surrounding the Thanksgiving holiday have evolved immensely over the years. What used to be a one-day free-for-all shopping event has now turned into an entire week of sales beginning the week of Thanksgiving and extending into the infamous Cyber Monday. Although consumers have more time than ever to take advantage of the many sales and promotions offered by retailers, the e-commerce holiday still reigns supreme.
Cyber Monday’s grand total for 2019 in the US was $9.2 billion.
That number represents a 16.5 percent increase over 2018, which ended in a $7.9 billion in sales. Consumers were spending roughly $11 million per minute between the peak hours of 11 p.m. ET to midnight. Somewhat interestingly, about a third of the transactions were made via smartphones, making for a 46 percent increase over 2018. Not to mention, the record breaking total for the shopping holiday trumped Black Friday ($7.4 billion) and Amazon Prime Day 2018 ($4.2 billion).
“Retailers unlocked sales earlier to combat a shorter shopping season, while continuing to drive up promotion of the big branded days including Black Friday and Cyber Monday,” said John Copeland, head of Marketing and Consumer Insights at Adobe, in a statement. “Consumers capitalized on deals and ramped up spending, especially on smartphones, where activity increased on days when shoppers were snowed or rained in.”
Adobe actually overshot their Cyber Monday predictions, but not by much. Their 2019 Holiday Predictions Report had the numbers coming in at $9.4 billion, which would have represented about a 19 percent increase. Salesforce, on the other hand, had more conservative predictions. They estimated Cyber Monday sales would generat $8 billion in US sales for a 15 percent increase.
It’s also worth mentioning that these numbers may need to be tweaked a bit as Adobe looks more intensely at these figures. But thankfully this year we’re not dealing with a government shutdown, which notoriously caused delays in financial analyses in 2018.