Cyber Monday Increasing Retailers’ Stock

    Author Samara MalkinPosted on Categories Retail, ConsumerTags , , , , , , , , , , , , , , , , , , , , , , , , , ,
    Cyber Monday

    This year, Cyber Monday is expected to hit record sales, giving retailers a strong and steady climb towards the holiday season.

    According to Adobe Analytics, Cyber Monday is expected to pull $6.6 billion in internet sales this year. This makes it the biggest online shopping day on record. The day has been gaining in popularity over the years, with 56% of consumers, surveyed by RetailMeNot, stating that they will shop this year’s Cyber Monday. Last year, it was 39%.

    According to the National Retail Federation, non-store sales (online sales and kiosk sales) are estimated to reach $140 billion for November and December. Total holiday season sales should be between $678.75 billion and $682 billion.

    A large number of retailers are experiencing the benefits of day and the climb towards the holiday season. Wal-Mart (NYSE:$WMT) experienced an increase of 1% in shares; Amazon (NASDAQ:$AMZN) shares reached a record high of $1,213; Gap Inc. (NYSE:$GPS) stocks were trading between 1-3%. The Dow Jones US Retailers index was up 0.9 pct on Cyber Monday, which is even higher than the 0.4% gained on Black Friday.

    Featured Image: depositphotos/roobcio

    Author Samara Malkin
    About the author: Samara graduated from Simon Fraser University with a BA in English, minoring in Publishing and Creative Writing. One day she hopes to publish her very own novel, but in the meantime, she contents herself with blogging and editing. She currently specializes in writing financial news and analysis, as well as cryptocurrency news and information.