Cyber Monday 2017 sets new record at $6.59 billion, data shows

29 November, 2017, 01:04 | Author: Lester Mason
  • Macy's credit card processors stop working on Black Friday

Predictions are that overall online holiday sales will reach $107 billion, rising more than 13% from past year. But this year, Cyber Monday sales are projected to set new records.

The holiday shopping season for the first 27 days of November has produced more than $50 billion in sales online, an increase over a year ago of more than 16.8%.

Online sales volume on the Black Friday shopping day grew 24% year-over-year, according to data from Salesforce's retail intelligence unit.

E-commerce, however, is again expected to show the most growth.

The National Retail Federation (NRF), which had predicted strong holiday sales helped by rising consumer confidence, said on Friday that fair weather across much of the nation had also helped draw shoppers into stores. The company acknowledged that processing was taking longer than usual in its stores and said it was working on the problem. The practice, known as showrooming, has been hard to combat. "This year, mobile shopping was dominant both in the morning and afternoon".

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Websites offer price guides of discounted merchandise at competing websites.

Shoppers may have become more demanding and have set their bars higher when it comes customer service, convenience, and flexibility, but shoppers are still leaving their homes even though almost everything can be bought online. "Millennials were likely another reason for the dramatic growth in mobile, with 75 percent expecting to shop via their smartphone".

Cyber Monday's busiest period was late in the day from 8 11 p.m. for each market, while the last hour from 11 midnight will be the single business hour at over four times the annual average.

On Black Friday, the largest discounts were on computers, televisions and toys, On Tuesday, which is now referred to as Giving Tuesday, pet products and bedding and furniture are expected to have the best discounts at 22% and 13% respectively. That will help their traditional brick and mortar stores compete with online shopping. People not only buy online.

If your smartphone or tablet is running low on battery power, you could be one of the millions of Americans shopping online on this Cyber Monday. The brick-and-mortar retailers are left with nearly no defense of their century-old business model.


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