Cyber Monday 'largest online sales day in history'

Posted November 29, 2017

Retailers didn't wait until the busiest shopping weekend of the year to discount items as a new EDITED report reveals 48 percent of the USA online apparel retail market was at an average discount of 46 percent, with big price cuts hitting weeks before Thanksgiving even arrived. Last year, the company's numbers for Cyber Monday sales were $5.6 billion.

Consumers spent a record $6.59 billion online on Monday, a 16.8 percent increase from last year's $5.6 billion. This marks a 16.8 percent year-over-year (YoY) increase as of 10:00 p.m. ET.

Top sellout products: The items that sold out the quickest these holidays were accessories (29 percent), tops (20 percent), footwear (17 percent), dresses (8 percent) and bottoms (8 percent).

The growth is consistent with other data on holiday shopping so far this year that show mobile becoming the new norm for browsing products, even if final purchases still tend to be made on desktop computers. The U.S. Census Bureau highlighted data Monday which showed only 9.4 percent of sales were attributed to online shopping during the fourth quarter of a year ago, which covers the holiday shopping season. Adobe reckons that we're looking at around $6.6 billion in new sales today. Mobile transactions already have set a record, encompassing 53 percent of all traffic to web retailers.

Fair weather across much of the nation also was factor, said National Retail Federation President Matthew Shay.

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Online retailers have not yet surpassed the total number of sales traditional stores make during the holiday shopping season despite their overall growth. Online retailers at first trailed behind traditional stores with only 3,625 establishments in 2001.

There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail, and the fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and, when done right, profitable.

Brick-and-mortar stores still saw strong sales - but they did not increase compared to past year, according to preliminary data. An order placed online but picked up in a store counts as a digital sale, but would the customer have still placed the order if the item could not have been picked up?

Next up is today's Cyber Monday splurge.