Enthusiastic online shoppers have set a new Cyber Monday sales record

Enthusiastic online shoppers have set a new Cyber Monday sales record

The retail software firm Vend, which tracked 1,500 independent shops across Britain on Friday, Saturday and Sunday, said that sales were up by 22 per cent on the same weekend previous year. Add to it the adjustments Adobe undoubtedly made to the data to accommodate the remaining 20 percent and other factors, and this is probably as reliable an estimate as we are likely to get. Black Friday nearly caught up, with $3.34 billion spent online, a gain of 21.6 percent from a year ago and another record. This will mark the largest online sales day in history, surpassing Black Friday ($3.34 billion) by a narrow margin.

Principal analyst at Adobe Digital Insights, Tamara Gaffney sees this as consumers' growing tendency to buy things online. Prices are expected to start climbing after today as retailers shift attention to extend the season late into December with quick shipping deals and the option to click and collect in store. "It's an incredible milestone, but it's also incredible that Black Friday inched so close to Cyber Monday this year, generating only $110 million less in online sales".

The five best-selling electronic products that literally walked off shelfs this season included Sony PlayStation 4, Microsoft Xbox, Samsung 4K TVs, Apple iPads and Amazon Fire. Top selling toys included Lego sets. Mobile devices (including tablets) continued to drive the majority of visits to the websites with 53% of shoppers logging in through them. Again 35% of the sales were through mobile visits with 25% from smartphones and 10% from tablets. Online spending increased 19 percent that day to $1.57 billion, according to Adobe. ShopperTrak, a retail solutions provider, said preliminary data showed that in-store visits dropped a combined 1% on Thanksgiving Day and Black Friday, compared to previous year.

Most popular products for the holiday season so far have been PlayStation 4, Pokémon Sun & Moon, Samsung 4K TV and iPad Air 2.

Around 14 million shoppers were predicted to go on a £1.97bn spending spree on Black Friday - setting a new record - with more than half of that amount spent with companies trading on the internet.

Among the e-commerce giants and retailers eBay beat Amazon to claim the title of the most mentioned online retailer followed by Macys, Walmart, H&M, Target, Nordstrom, Kohl's, Home Depot and Gap.

Thanksgiving weekend sales from Nov 24 to 27 were $9.36 billion, marking a year-over-year increase of 16.4%.

But that extended sales period may diminish Cyber Monday's standing as a singular, blockbuster event, like Black Friday, which is "not as important as it once had been, " Levy says.

Shares of Adobe have been steadily treading higher on a year-to-date basis.

Currently, Adobe has a Zacks Rank #3 (Hold).