Cyber Monday becomes largest online shopping day in U.S. history

Posted November 29, 2017

More seriously, in Missouri a man was shot outside a mall, while in Houston, one person was shot and one stabbed. The BLS found in a report past year that overall the retail trade industry has increased by 21 percent since 1990. Gotta grab yourself some gun action at bargain prices!

The online consumer spending analysis also showed product sellouts increased 102 percent compared to previous year, with accessories, sneakers and outwear getting the heaviest price reductions, according to a press release. According to data from Adobe Digital Insights, US shoppers parted with $5 billion in spending over a 24 hour period, 16.9% up on a year ago.

Cyber Monday is projected to hit a new record as the largest online sales day in history with $6.59 billion by the end of the day.

Overall web traffic to retail sites increased by 11.9 percent when compared to the season average at 5.7 percent, with most sale visits coming from mobile devices, such as smartphones and tablets.

Mobile posted new records in representing 47.4% of all visits including 39.9% for smartphones and 7.6% for tablets, while it took in 33.1% of revenue that was distributed by 24% for smartphones and 9% for tablets. Mobile transactions are closing at a 12 percent higher rate compared to Cyber Monday 2016. Online retailers at first trailed behind traditional stores with only 3,625 establishments in 2001.

Brick-and-mortar retail sales data were not immediately available, but industry analysts noted signs of a decline in physical store sales this year, Reuters reported. All things being equal, that could be chalked up as a win.

The modest drop, amid a big upswing in online sales, "illustrates that physical retail is still highly relevant and, when done right, profitable", a Shoppertrak spokesperson told CNBC. At the time of writing, a 16.5% increase in sales for Cyber Monday is expected by Adobe.

The growing online shopping trend, led by Amazon, has forced the toy chain Toys R Us and apparel retailers True Religion, the Limited, Rue 21 and Payless Shoe Source to file for bankruptcy this year.

I bought nothing on Friday, online or offline, although I had picked up a couple of things earlier in the week when the Black Friday offers kicked in online. They also believe e-tailers are providing consumers with the hot products they want at good discounts.