Data from Adobe projected online sales reached $9.2 billion by the end of Monday.
What We Know:
- Cyber Monday remains the largest online shopping day with a growing 16.9 percent year-over-year, according to Fox Business. Most shoppers were from New Jersey, Connecticut, and Oklahoma. Due to high snow, these shoppers decided to stay in doors.
- The “Golden Hour of Retail” is between 10:00 p.m. and 2:00 a.m. where shoppers get their last chance to get deals. This will drive 30 percent of all revenue at $2.8 billion. The peak hour is 11:00 p.m where consumers spend a total of $11 million every minute.
- Smartphones hit a new record with 33 percent of all Cyber Monday sales at $3.0 billion. That is a 46 percent growth year-over-year. Other high selling products were Frozen 2 toys, L.O.L Surprise Dolls, NERF products, and Madden 20. From Nov. 1 through Dec, 1 there has been a total of $72.1 billion online sales to date.
John Copeland, head of Marketing and Consumer Insights at Adobe stated: “Consumers capitalized on deals and ramped up spending, especially on smartphones, where activity increased on days when shoppers were snowed or rained in.”