News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

US Consumers Will Spend $6.6 Billion Online on Cyber Monday

US Consumers Will Spend $6.6 Billion Online on Cyber Monday

Cyber Monday will again set a record as Adobe Analytics expects U.S. e-commerce shoppers to spend $6.6 billion this year on Nov. 27. Forecasts for holiday e-commerce have been rosy so far and Adobe said this year’s total for the online shopping holiday would outstrip 2016 by 16.5 percent. Overall, the analytics arm of the software giant said online holiday sales would top $107 billion, 13.8 percent higher than last year. The most well-known brands will drive much of the increase, according to Mickey Mericle, vice president of Marketing and Insights at Adobe.

“This year’s record-breaking online holiday shopping season is built on the strength of the big players,” said Mericle. “We predict the biggest retailers with wide selections, easy shopping experiences and free shipping, to drive online holiday growth this year. Still, there is opportunity for savvy small retailers to win, specifically with mobile experiences. As revenue growth plateaus, retailers will be competing hard for customers by offering steep discounts and providing a seamless customer journey.”

Two-thirds of holiday e-commerce purchases will originate on desktops, but mobile continues to make inroads. Last year, Cyber Monday was the first time more than $1 billion was spent on mobile devices online in the U.S. in a single day and Adobe figures that will increase. For the first time, the company said, Web traffic on smartphones (54 percent) will surpass traffic on desktops (46 percent), leading to more purchases via the mobile channel.

Read the Next CNP Report Article