Cyber Monday Sales Show Early Increase for Online Retailers After Black Friday Surge

Cyber Monday sales increased by 10% to $540 million in early data from Adobe Digital Insights, with Star Wars Lego sets and Samsung 4K televisions among top sellers.

The data was updated as of 10 a.m. ET, according to ADI’s website, which predicted online sales of $3.36 billion for growth of 9.4%. Earlier on Monday, IBM (IBM) said Cyber Monday sales are seen growing by double digits around the world with pre-holiday online shopping already up almost 10% over 2015.

The technology firm predicted that overall 2016 online sales in November and December for retailers will increase by nearly 14% from a year earlier. Over the four-day weekend from the US Thanksgiving holiday, global retailers saw online sales up close to 20% over the same period a year earlier, while for US retailers the increase was 9.3%, IBM said in a statement Monday.

The first Monday after Thanksgiving has been branded by retailers as Cyber Monday in a way to push people to do more shopping online. But Black Friday, which this year was on Nov. 25, saw consumers already buying on their computers and mobile devices, according to ADI. The National Retail Federation said average spending per person over the Thanksgiving weekend fell by about $10 to $289.19, according to its survey of 4,330 consumers.

“We believe Black Friday was a good (not great) start to the holiday shopping season,” said Canaccord Genuity consumer analyst Camilo Lyon in an e-mailed note Monday. “With winter weather firmly here in many parts of the US, we believe sales trends should sequentially improve over the coming weeks in December.”

On Friday, online sales surged almost 22% to $3.34 billion, ADI said on its website. It was the first day where over $1 billion in online sales were generated from mobile devices. The mobile share of visits to retailers’ sites was 55%, with smartphones accounting for 45% of that. Desktop visits made up the remainder of the total, ADI said.

“We expect to see ecommerce growth continue to outpace overall retail sales growth by a similar magnitude,” Goldman Sachs analysts including Matthew Fassler and Alexandra Walvis wrote in a note.

Companies including Amazon.com (AMZN), Wal-Mart Stores (WMT), Target (TGT) and Kohl’s (KSS) are touting their Cyber Monday deals and discounts on their websites.

Leave a Comment