Consumers spent about $10.7 billion on online purchases on Cyber Monday, down 1.4% from a year ago, according to data released by Adobe Analytics, which said that this year is the first time ever that spending on big shopping days has declined, knowing that it began tracking the e-commerce market in 2012 and analyzes more than 1 trillion visits to online retail sites.
Despite sluggish sales, Adobe expects the entire holiday season to hit record-breaking e-commerce volumes after consumers spread their spending across several days of the season, as the volume of consumer spending via the Internet in the United States from November 1 to last Monday “Internet Monday” amounted to 109.8 billion dollars, which is an increase of 11.9% year-on-year, and Adobe forecasts that online sales from November 1 to December 31 will reach $207 billion, representing a 10% growth over last year.
On Cyber Monday last year, retailers collected $10.8 billion in sales online as more people stayed home and avoided in-store shopping as the coronavirus pandemic dragged on, prompting last year’s event to set a record day for e-commerce sales in the US.
The slight slowdown in online spending follows a similar situation in the markets on Thanksgiving and Black Friday this year as shoppers spread out their spending over several days rather than all their money during “Internet Week.” Read more [The Shopping Rate on “Black Friday” Decreases by 28%].
Note that this new behavior was encouraged by retailers, including e-commerce giant Amazon, where from the beginning of October, merchants have been publishing promotions similar to the style of Black Friday offers. Read more [Puma Encourages Customers to Prepare for the Holiday Season].