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Is Cyber Monday bigger than Black Friday?

 

Cyber Monday sales hit a new all-time record in 2016 - will 2017 smash the record again?


According to research by Adobe Digital Insights, Cyber Monday 2016 was officially the biggest day in the history of US eCommerce.

In total $3.75 billion was spent online on Monday, easily surpassing estimates and becoming the most successful shopping day of Thanksgiving weekend, where Black Friday online sales were $110 million behind. The $3.45 billion represents a 12.1% jump from Cyber Monday 2015.

This year, Adobe Insights predicts an even higher increase as it's estimated to rake in as much as $6.6 billion in sales - a 16.5% increase. Again, this figure beats the estimated spending of Black Friday ($5 billion online.)

This rise in popularity of Cyber Monday may directly relate to the rise of mobile and desktop spending. More and more people are preferring to shop away from the crowds in the comfort of their own homes, so it's no surprise that online deals, mainly those on Cyber Monday, are so popular.

In 2016, smartphone spending saw a 42% year on year increase. Add this to an abundance of stores offering online exclusive deals and hassle-free purchasing and it's easy to understand why online spending is increasing.

For physical stores, however, this poses a problem. According to retail analytics site ShopperTrak, visits to stores offline fell by 1% on Thanksgiving and Black Friday, and while this seems like very little, it is further proof that the majority of spending is now heading towards online retailers.


Want the latest news from Black Friday? Check out our article on Mobile vs Desktop spending.


Source: CNBC




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