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
