Cyber Monday Smashes Online-Sales Record

RAPAPORT... E-commerce sales jumped 20% year on year to$7.9 billion on Cyber Monday, making it the largest US online shopping day of all time, accordingto projections from Adobe Analytics. The prior Saturday and Sunday also set a record for thebiggest online shopping weekend in the US, raking in a combined $6.4 billion,the research group said Monday. Thanksgiving Day online sales grew 28% to $3.7billion, while those on Black Friday surged 24% to $6.2 billion. E-commerce proceeds are up 20% to $58.5 billion for theentire period from November 1 to 26, Adobe added. For the first time, more than half of Cyber Monday buyersshopped on mobile devices, with 44% using smartphones to make purchases, while8% bought via tablets. Adobe also reported a record 50% increase in the numberof customers buying online and collecting their products in a store. "Sales coming from smartphones hit an all-time high of $2billion [on Cyber Monday]," said John Copeland, head of marketing and customer insights at Adobe."We [also] saw a significant spike in the 'buy online, pick up in-store' trend." Research groups have forecast strong increases in totalretail sales over the holiday season. IBM predicted a 5.2% rise in jewelrypurchases, and a 4.8% improvement overall, while the National Retail Federationexpects growth of 4.3% to 4.8% for the period. Image: Online shopping. (Shutterstock)