Cyber Monday becomes largest online shopping day in United States history

Holiday Shopping

Macy's officials say Black Friday credit card, gift card glitches resolved

The holiday shopping season from November 1 to November 27 drove a total of $50 billion in online revenue.

Next up is today's Cyber Monday splurge.

This year, Adobe Insights was forecasting Cyber Monday sales would hit $6.5 billion, another new record and well into double-digit growth over its numbers from last year. Adobe predicts this will be the first-ever holiday season to break $100 billion in online sales.

Adobe said Cyber Monday is expected to drive $6.6b in Internet sales, which would make it the largest U.S. online shopping day in history.

While the Christmas season is officially kicked off by Black Friday, Gibbons said many stores are now starting the season earlier, displaying holiday and discounted items sometimes a month before Black Friday. In comparison, Black Friday and Thanksgiving Day brought in $5.03 billion and $2.87 billion in revenue respectively. The practice, known as showrooming, has been hard to combat.

Shoppers may have become more demanding and have set their bars higher when it comes customer service, convenience, and flexibility, but shoppers are still leaving their homes even though almost everything can be bought online. Because they are portable, smartphones allow people to look at merchandise in stores and buy at better prices online, nearly instantaneously.

"People increasingly know where to find the best deals and what they want to purchase, which results in less price matching behavior typically done on desktops", the executive added. "This year, mobile shopping was dominant both in the morning and afternoon". Toys" R " Us, which filed for bankruptcy earlier this year, offered 15 percent items site-wide and another 25 percent off all Hasbro games online.

Largest price drops heading into Cyber Monday were for toys with an average discount of 18.8 percent, followed by TVs at 21.1 percent and computers at 14.7 percent.

So what about the traditional department store? Many consumers are comfortable buying online and as shipping speeds improve and technology advances in other ways, more dollars will likely move in that direction.

No actual data for Friday's brick-and-mortar business was immediately available.

Digital retailers get a lot of the holiday sales hype because they have been growing at a faster rate than traditional brick-and-mortar chains.

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