Cyber Monday Sales to Top $2 Billion, Highest Ever 1-Day Total
With the holidays quickly approaching, retailers are preparing for the mad rush that is expected this year on one of the busiest shopping days of the year: Cyber Monday.
With the ever increasing rise of online shopping, retailers are getting ready for the largest single day of online shopping, which has been labeled Cyber Monday as it follows the biggest in-store retail event of the year, Black Friday.
The reason shoppers look to take advantage on Cyber Monday is not just to avoid the large holiday crowds or the notoriously long lines, but to take advantage of sales and offers that are only available on the Monday after Thanksgiving.
Get Our Latest News for FREE
"Industry forecasts predict growth in online holiday sales this season, and our survey data is in line with this trend, revealing strong consumer interest in online shopping on Cyber Monday to take advantage of retailer incentives," said Rojeh Avanesian, vice president of marketing and analytics of PriceGrabber.com.
A recent survey of people who were planning to shop online for Cyber Monday showed that 84 percent wanted to take advantage of the one-day sales and free shipping offers. Respondents also cited the convenience of shopping for the holiday's with their smartphones
"While most consumers plan to shop from a home computer on Cyber Monday, we anticipate that mobile shopping will continue to gain momentum, allowing even busy commuters to make the most of what retailers are sure to offer on Cyber Monday," Avanesian added.
The Adobe Digital Index 2012 Online Shopping Forecast has predicted that Cyber Monday 2012 could see total revenue for the retail sector soar past $2 billion.
The company's data analysis also shows continued increases of purchasing activity from mobile devices, with mobile accounting for 21 percent of total online sales this holiday- an increase of 110 percent since last year.
Adobe's Digital Index analyzed more than 150 billion website visits to more than 500 Adobe retail customers over the past six years to determine trends in customer spending and to forecast sales growth for the season.
