Name: Cyber Monday to be biggest in U.S. history
Uploaded: 2020-11-30T21:30:30+00:00
Description: Cyber Monday to be biggest in U.S. history

Cyber Monday to be biggest in U.S. history

Stock MarketsNov 30, 2020 04:30PM ET

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Cyber Monday is on track to be the biggest online shopping day in U.S. history, bringing in as much as $12.7 billion in online sales and surpassing Black Friday’s digital numbers.

Shoppers have seen nearly two months of promotions from retailers looking to recover sales caused by store closures.

And Amazon (NASDAQ:AMZN) pushed back its annual summer promotional event to October, creating a longer than ever online shopping season.

This year represents big growth according to John Copeland, the vice president of marketing and customer insights at Adobe (NASDAQ:ADBE).

“That represents somewhere between a fifteen to thirty five percent growth over last year's Cyber Monday.”

Traditionally, Cyber Monday starts with people scouring for discounts online after the holiday weekend.

This year, it follows a blowout day for online sales on Black Friday, which pulled in a record $9 billion in online sales, according to Adobe.

That as shoppers turned up in smaller numbers at stores as they utilized the early deals and avoided stepping out into large crowds.

Consumers sought out deals for gifts and necessities including the latest Xbox and PlayStation consoles, Lego sets, and Apple (NASDAQ:AAPL) Watches.

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