Cyber Monday is again expected to be the biggest online shopping day of the year - but just barely.
Cyber Monday's online sales in the United States are forecast to climb 9.4 per cent from last year to a record $US3.36 billion ($4.49 billion), according to the digital marketing and media firm Adobe Systems.
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Cyber Monday to hit record sales
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Cyber Monday is on track to bring in $3.36 Billion, according to Adobe.
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Cyber Monday to hit record sales
Cyber Monday is on track to bring in $3.36 Billion, according to Adobe.
But internet sales on Black Friday this year nearly matched those expected on Cyber Monday. Online sales on Black Friday surged 21.6 per cent from last year to a record $3.34 billion, Adobe reported.
It's a sign of how Cyber Monday's once-unique status in the holiday shopping season has diminished as consumers make more purchases from their computers and smartphones throughout the season.
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The term Cyber Monday was invented in 2005 by the National Retail Federation trade group when its employees noticed a jump in online sales following the traditional post-Thanksgiving Black Friday start to the holiday shopping season.
Back then, many consumers had relatively slow internet connections at home. When they returned to work or school Monday — often with a faster computer at their fingertips — they kept shopping online.
Retailers jumped on the trend and began heavily promoting Cyber Monday sales.
Now, with smartphones and faster internet speeds the norm for consumers, online holiday sales have surged throughout the shopping season, starting on Thanksgiving Day.
On this year's Black Friday, mobile sales jumped 33 per cent from a year ago to $1.2 billion, Adobe reported. It was the first time that mobile sales on Black Friday surpassed $1 billion.
This also could be the first year that holiday shopping visits on mobile devices surpass those on desktop computers, Adobe has forecast.
It turns out eBay was on to something with its newly minted "Mobile Wednesday," the day before Thanksgiving when it expected travellers to shop from the road. Online spending increased 19 percent that day to $1.57 billion, according to Adobe.
Roughly 75 per cent of the dollars spent on Cyber Monday goes toward toys and computers, televisions, phones, video games and other electronics.
Amazon lured shoppers with 50-inch televisions for $145, half price select Nerf toys and Play-Doh items and $40 off its popular voice-activated Echo personal assistant. Wal-Mart and Target responded with their own deals on electronics and video games.
Despite the records, stocks of some major online retailers were lower in early trading Monday. Amazon.com was down 1.7 per cent at $767.53 a share and Best Buy fell 2.2 per cent to $45.57 a share.
- McClatchy, Bloomberg