Cyber Monday Sets Retail Sales Record

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Shopping from home was the obvious choice this year.

In an effort to mitigate the physical presence of customers in stores, and by extension the necessity of associates, many retailers have been putting a greater emphasis on Cyber Monday online sales over in-person Black Friday sales. Advertising for these sales has been circulating since October, and when Cyber Monday finally arrived yesterday, it seemed to have paid off, as customers set a spending record.

According to Adobe, which monitors online transaction volume from 80 of the top online retailers in the US, online purchases have risen by 15.1%. Altogether, at least as far as the websites Adobe monitors are concerned, US shoppers spent a combined total of $10.8 billion on Cyber Monday alone. This year’s Cyber Monday now holds the record for the largest online shopping day in US history.

“Throughout the remainder of the holiday season, we expect to see record sales continue and curbside pickup to gain even more momentum as shoppers avoid crowds and potential shipping delays,” said Taylor Schreiner, a director at Adobe Digital Insights.

While these sales are tremendous, they actually fell short of Adobe’s predictions. Adobe’s original estimation for total Cyber Monday sales was actually $12.7 billion. While online shopping is much more popular in the midst of a pandemic, the economy is still in a difficult place, and many Americans have less disposable income than usual. Adobe has been gradually shifting its overall holiday expenditure estimates downward, with its most recent change being a shift from $189 billion overall to $184 billion.

As an interesting aside, Adobe’s metrics revealed that while online shopping was up, many customers opted for curbside pickup of their orders over typical delivery. At least 37% of purchases made on Cyber Monday were made from mobile devices, with curbside pickup requests up by 30% compared to last year.

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7 months ago