Survey: Smartphones Fuel Record Cyber Monday Sales
Smartphones were a strong driver of Cyber Monday sales, according to online shopping data from Adobe Inc (NASDAQ: ADBE) Analytics.
Record Sales
Cyber Monday sales are estimated at $7.9 billion, a record performance and also the biggest online shopping day of all time in the U.S., Adobe said. This marks a 19.7-percent year-over-year increase.
"Sales coming from smartphones hit an all-time high of $2 billion and we saw a significant spike in the buy online, pickup in-store trend," John Copeland, Adobe's head of marketing and customer insights, said in a statement.
In comparison, online sales on Thanksgiving Day and Black Friday reached $3.7 billion and $6.2 billion, respectively.
Online sales from Nov. 1 to Nov. 26 grew by 19.9 percent to $58.5 billion, with each day generating more than $1 billion in sales.
Smartphone sales during Cyber Monday came in at $2.1 billion in 2018 compared to $1.4 billion in 2017, or 48.1-percent growth, according to Adobe.
Overall, the mobile category — comprising smartphones and tablets — accounted for 51.4 percent of site visits and 34 percent of revenues, making the 2018 Cyber Monday the first in which more than half of site visits came from mobile devices, Adobe said.
Higher Online Conversions For Physical Stores
The blending of the online and offline retail experience was evident, as retailers with physical stores saw 28-percent higher conversions online, Adobe said.
Online purchases with in-store pickups over the shopping weekend surged a record 50 percent.
Sales at Walmart Inc (NYSE: WMT), Target Corporation (NYSE: TGT), Best Buy Co Inc (NYSE: BBY) and Kohl's Corporation (NYSE: KSS) as well as online retailer Amazon.com, Inc. (NASDAQ: AMZN) remained strong on Black Friday and into the weekend, CNN reported, quoting analysts.
Top Sellers
The following results are based on Adobe Analytics' survey.
NINTENDO LTD/ADR (OTC: NTDOY)'s Nintendo Switch.
Little Live Pets.
Rockstar Games' "Red Dead Redemption 2."
LG TVs.
Drones (DJI, Air Hogs, Sky Viper).
Dell Technologies Inc (NYSE: DVMT) laptops.
FurReal Pets.
Amazon Echo devices.
The record Cyber Monday sales are seen as a function of a vibrant economy, which is chugging along at an above-trend pace, and a strong job market. The demise of some retailers could also be benefiting the remaining players in the sector.
Related Links:
Tuesday's Retail Earnings Roundup: Red Performance Across The Board
Cyber Monday Gives E-Commerce ETF A Modest Boost
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