Holiday sales around Thanksgiving have evolved immensely over the years. What used to be a one-day shopping free-for-all has now turned into an entire week of spending. Although consumers have more time than ever to take advantage of the many sales out there, the e-commerce holiday known as Cyber Monday still reigns supreme. In the United States alone, Cyber Monday generated some $9.4 billion in sales. That’s several billion more than Black Friday and Amazon Prime Day 2018.
According to Adobe Analytics, that final number ended up being a 19 percent increase over last year’s $7.9 billion haul. During the peak hours of 11 p.m. and midnight, consumers were spending about $11 million per minute, and almost half were completing these transactions on their smartphones. And although most retailers were offering free shipping on Cyber Monday, the buy-online, pick up in store option saw a 41 percent growth over 2018, which was surely to the delight of delivery drivers everywhere.
So what were people buying exactly? Well, Adobe found the top-selling products to be Frozen 2 toys, the Nintendo Switch, VR devices, Samsung TVs, LOL Surprise Dolls, Apple laptops, NERF products and video games. That means the top selling category was indeed consumer tech products.
As of December 3, the holiday season has generated a record $81.5 billion in total online sales. And there’s still a decent amount of time left to purchase gifts before the holidays roll around and before potential tariffs go into effect on Dec. 15.
In the end though, the NRF predicts retail sales will increase between 3.8 and 4.2 percent over 2018, so it looks like we’re on the right path so far.