Cyber Monday 'largest online sales day in history'

Adobe research suggests that this year's Cyber Monday resulted in $6.59 billion in online sales.

Cyber Monday 2017 has become the largest online sales day in history with a projected $6.59 billion spent by consumers, according to Adobe.

According to Adobe's 2017 online shopping data, Cyber Monday this year managed to smash through last year's projected sales as consumers parted with an estimated $6.59 billion, a 16.8 percent year-over-year increase.

The company's forecast suggests that shoppers spent over one billion more than in 2016 during the sales event.

In comparison, Black Friday and Thanksgiving Day brought in $5.03 billion and $2.87 billion in revenue respectively, according to Adobe, which predicts this will be the first shopping season in history to break the $100 billion barrier.

Adobe has based its predictions on web traffic to retail sites, specifically, an analysis of one trillion visits to over 4,500 retail sites and 55 million stock keeping units (SKUs).

These increased by 11.9 percent on Monday, far beyond the season average of 5.7 percent. Mobile traffic also surged, representing 47.4 percent of overall visits -- 39.9 percent on smartphones, and 7.6 percent conducted through tablets -- and accounted for roughly 33.1 percent of retailer revenue this Cyber Monday.

Smartphone-based revenue is estimated to have reached $1.59 billion, a growth of 39.2 percent year-on-year.

Apple iOS users placed average order values of $123, while Android users spent a little less on average, coming in at $110 for each purchase.

Adobe estimates that the largest price drops on Cyber Monday were for toys with an average discount of 18.8 percent, followed by television sets at 21.1 percent and computers at 14.7 percent. Among the most popular purchases this year in technology was the Google Chromecast, iPads, Samsung tablets, the Nintendo Switch, and Microsoft Xbox One X.

"Shopping and buying on smartphones is becoming the new norm and can be attributed to continued optimizations in the retail experience on mobile devices and platforms," said Mickey Mericle, vice president, Marketing, and Customer Insights at Adobe. "Consumers are also becoming more savvy and efficient online shoppers."

"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. "Millennials were likely another reason for the dramatic growth in mobile, with 75 percent expecting to shop via their smartphone."

Adobe added that the season for sales isn't over, with the next 13 days projected to rake in an additional two billion in online sales.

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