Cyber Monday 2016 Is Largest Online Sales Day In History With $3.39 Billion

Posted: Nov 29 2016, 5:56am CST | by , in News | Cyber Week

 

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Cyber Monday 2016 is Largest Online Sales Day in History With $3.39 Billion
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As expected the Cyber Monday 2016 set a new record in online consumer spending.

Cyber Monday 2016 ht a new record with $3.39 billion spent online, a 10.2 percent increase year-over-year (YoY). This will mark the largest online sales day in history, surpassing Black Friday ($3.34 billion) by a narrow margin.

The move to online shopping has been making Black Friday grow faster than Cyber Monday. In 2017, Black Friday online spending could surpass that of Cyber Monday.

Cyber Monday is expected to generate slightly less mobile revenue than Black Friday at $1.19 billion, a 48 percent YoY increase. The holiday shopping season so far (November 1-28) is expected to drive a total of $39.9 billion in online revenue, a 7.4 percent increase YoY, with 27 out of 28 days this holiday season generating over $1 billion, according to new data released by Adobe.

The five best-selling toys in terms of quantity sold on Cyber Monday were Lego sets, Shopkins, Nerf, Barbie and Little Live Pets, and the five best-selling electronic products were Sony PlayStation 4, Microsoft Xbox, Samsung 4K TVs, Apple iPads and Amazon Fire. Mobile continues to drive the majority of visits to retail websites on Cyber Monday at 53 percent (44 percent coming from smartphones, 9 percent from tablets), while accounting for 35 percent of sales (25 percent smartphones, 10 percent tablets).

Adobe’s Cyber Monday report is based on aggregated and anonymous data from 23 billion visits to retail websites. Adobe measures 80 percent of all online transactions from the top 100 U.S. retailers, more than any other technology company, and uses its proven, predictive model powered by Adobe Sensei to calculate the remaining hours of the day. Seven dollars and fifty cents out of every 10 dollars spent online with the top 500 U.S. retailers goes through Adobe Marketing Cloud. The tremendous volume of data puts Adobe in the unique position to deliver highly accurate, census-based online sales totals, pricing and product availability trends.

“Cyber Monday is on track to be the biggest online shopping day ever, surpassing our forecast by almost $27 million or 0.8 percent,” said Tamara Gaffney, principal analyst, Adobe Digital Insights. “This indicates that consumers still had more appetite for online shopping despite the incredible volume of online sales on Black Friday. Prices are expected to start climbing after today as retailers shift attention to extend the season late into December with quick shipping deals and the option to click and collect in store.”

Additional findings for Cyber Monday 2016:

Mobile performance: Conversions were higher over holiday averages, with smartphones at 1.9 percent, tablets at 3.7 percent and desktops at 4.3 percent (compared to holiday averages of 1.3, 2.9 and 3.2 percent, respectively). The average order value (AOV) on iOS smartphones ($139) was slightly higher compared to Android smartphones ($124).

Out-of-stock items: Out-of-stock messages were at 12 percent, 0.7 percent less than levels seen in 2015 and 1.5 percent higher than on Black Friday (10.5 percent). The products most likely to run out-of-stock include Beats By Dr. Dre Headphones, Garmin Vivofit Jr., Nintendo 2DS with Yo-Kai Watch Game and the Dell Inspiron 15 3000 Series for electronics, and Hot Wheels Super 6 Lane Raceway, Fisher-Price Thomas & Friends Take-n-Play Thomas' Favorite Friends and Shopkins Kinstructions Ice Cream Shop for toys. The Nikon D5300 and KitchenAid Professional are also at risk for running out of stock.

Discounts: The highest price drops were seen for televisions (average discount of 21.5 percent), tablets (21.3 percent), toys (16.2 percent) and pet care (12 percent). Video game consoles have shown a slight increase in price since Thanksgiving and Black Friday (0.5 percent).

Top promotion drivers: Search ads (35.5 percent of sales) and direct sales (23.8 percent of sales) drove the majority of sales on Cyber Monday, but both are down compared to the holiday average (40 percent and 28 percent, respectively). Shopper Helper sites like CNET and RetailMeNot (18.5 percent of sales) grew by 15.6 percent and email (19.9 percent of sales) grew by 32.7 percent.

Cyber Monday social buzz: eBay beat out Amazon as the most mentioned online retailer on Cyber Monday followed by Macys, Walmart, H&M, Target, Nordstrom, Kohl’s, Home Depot and Gap. Social media results are based on over 2 million social mentions captured and analyzed from blogs, Google+, Reddit, Twitter, Dailymotion, Flickr, Instagram, Tumblr, Foursquare, YouTube, WordPress and others.

Thanksgiving weekend sales: November 24-27 brought in $9.36 billion, a 16.4 percent increase YoY. Black Friday set a new record by surpassing the three-billion-dollar mark for the first time at $3.34 billion (21.6 percent growth YoY). Thanksgiving Day online sales were just shy of the $2 billion at $1.93 billion, an 11.5 percent increase YoY. Saturday and Sunday brought in the remaining $4.1 billion combined, a 14.8 percent YoY increase.

Thanksgiving weekend mobile performance: Mobile accounted for 56 percent of visits (smartphones: 45 percent; tablets: 11 percent) and 37 percent of sales (smartphones: 25 percent; tablets: 12 percent) and totaled $3.46 billion in sales. Black Friday became the first day in retail history to drive over one billion dollars in mobile revenue at $1.2 billion, a 33 percent growth YoY.

Most popular products of the season: For the entire season so far (November 1-28), PlayStation 4 is the best-selling video game console, Pokémon Sun & Moon leads in video game sales, Samsung 4K TV leads in television sales, and iPad Air 2 leads in tablet sales.

Timing is everything in scoring the best Cyber Week 2016 deals. To not miss a Cyber Week deal, deal hunters can follow I4U News on Twitter, where we notify followers about the best Cyber Week deals. We are especially tracking the availability of the hard to find Hatchimals and the Nintendo NES Classic throughout the Holidays.

Cyber Week sales run until the weekend. At that point the common theme of sales events ends. Retailers kick off individual Holiday sales event in the coming weeks leading up to the holidays. The Holiday shopping is season is far from over. Black Friday and Cyber Monday are just marker for the beginning of the Holiday shopping season 2016.

The latest Cyber Week deals and news are available in the Cyber Week 2016 Hub.

 

 

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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