Adobe has just released its 2016 online shopping data for Cyber Monday and the holiday weekend overall. Cyber Monday “is on track to hit a new record with $3.39 billion spent online, a 10.2 percent increase year-over-year.”
According to the respected company, this will mark the largest online sales day in history, surpassing Black Friday ($3.34 billion) by a narrow margin.
Cyber Monday is expected to generate slightly less mobile revenue than Black Friday at $1.19 billion, a 48 percent YoY increase. The holiday shopping season so far (November 1-28) is expected to drive a total of $39.9 billion in online revenue, a 7.4 percent increase YoY, with 27 out of 28 days this holiday season generating over $1 billion.
“Cyber Monday is on track to be the biggest online shopping day ever, surpassing our forecast by almost $27 million or 0.8 percent,” said Tamara Gaffney, principal analyst, Adobe Digital Insights. “This indicates that consumers still had more appetite for online shopping despite the incredible volume of online sales on Black Friday. Prices are expected to start climbing after today as retailers shift attention to extend the season late into December with quick shipping deals and the option to click and collect in store.”