US Holiday 2018: Early Cyber Monday Readings
Key Points
- US Cyber Monday online sales are estimated to have reached $7.8 billion, up 18.3% from last year, according to Adobe Insights.
- US consumers spent a record $6.2 billion on Black Friday, up 23.6% from last year, according to Adobe Insights.
- With 28 days between Cyber Monday and Christmas, including Super Saturday, consumers have plenty of time to shop.
Coresight Research estimates that US e-commerce sales will grow 16% this holiday season, while overall holiday sales will be up 4% year over year. We estimate that e-commerce will capture almost 16% of all US retail sales excluding automobiles and gasoline. This is up from 14.0% in the fourth quarter of 2017.
Preliminary results for US Cyber Monday 2018 sales have been positive. Online sales on Cyber Monday are estimated to have reached $7.8 billion, jumping 18.3% from last year, according to Adobe Insights.
US consumers spent a record $6.2 billion on Black Friday, up 23.6% from last year, according to Adobe Insights.
In 2017, online transactions on Cyber Monday hit $6.6 billion, a 16.8% year-over-year increase, according to Adobe Insights.
Source: Adobe Insights
Adobe Insights predicted that 7 pm to 10pm PST on Cyber Monday would be the prime time for retailers, with a peak 7.3% conversion rate: mobile app shoppers’ conversion rate are estimated to have been twice that of website shoppers on average.
The early timing of Thanksgiving, and so Black Friday and Cyber Monday, means there remains an unusually long period for US consumers to complete their holiday shopping. Retailers have 28 days between Cyber Monday and Christmas Day to capture those sales.