Adobe released its 2017 online shopping data for Cyber Monday and the holiday weekend overall. Cyber Monday is projected to hit a new record as the largest online sales day in history with $6.59 billion by the end of the day.
This marks a 16.8 percent year-over-year (YoY) increase.
In comparison, Black Friday and Thanksgiving Day brought in $5.03 billion and $2.87 billion in revenue respectively.
Adobe predicts this will be the first-ever holiday season to break $100 billion in online sales.
Overall web traffic to retail sites increased by 11.9 percent on Cyber Monday, with the season average at 5.7 percent. Mobile set a new record representing 47.4 percent of visits (39.9 percent smartphones, 7.6 percent tablets) and 33.1 percent of revenue (24.1 percent smartphones, 9.0 percent tablets). Smartphone traffic specifically grew 22.2 percent YoY while revenue coming from smartphones ($1.59 billion) saw 39.2 percent growth YoY, a new all-time high. Mobile transactions are closing at a 12 percent higher rate compared to Cyber Monday 2016. For purchases made on smartphones, Apple iOS led with an average order value (AOV) of $123, in comparison to Google Android at $110.
“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, VP, 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. Millennials were likely another reason for the dramatic growth in mobile, with 75 percent expecting to shop via their smartphone."
Methodology: Adobe leverages Adobe Sensei, Adobe’s artificial intelligence and machine learning framework, to identify retail insights from trillions of data points that flow through Adobe Analytics, part of Adobe Analytics Cloud in Adobe Experience Cloud. Adobe’s retail report is based on an analysis of one trillion visits to over 4,500 retail sites and 55 million SKUs.
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