Thanks to the burst of heavy discounts and e-commerce boom, retailers are enjoying one of the best holiday seasons ever. This is especially true as Black Friday and Thanksgiving online sales surged to a new record of $7.9 billion, up 17.9% year over year, according to Adobe Analytics.
Black Friday sales soared 16.9% year over year to $5.03 billion while Thanksgiving Day saw a jump of 18.3% to $2.87 billion in online spending. Most of the online sales came from mobiles and smartphones. Given a solid online shopping frenzy, Cyber Monday could become the largest U.S. online shopping day in history.
Adobe Analytics expects Cyber Monday online sales to hit $6.6 billion, surpassing Black Friday sales and increasing 16.5% from last year. The web analytics firm ComScore projects Cyber Monday to fetch $4.5 billion in e-commerce sales, up 22% from $3.68 billion last year. With the same fervor, retailers kicked in Cyber Monday deals early morning and many are stretching those through the Cyber Week.
Retailers on a Roll
Online behemoth Amazon.com (AMZN – Free Report) remained the hottest retailer. The company is rolling out more than 30 ‘Deals of the Day’ and thousands of ‘Lightning Deals’ on Cyber Monday. Some unique deals are on Amazon devices and electronics such as a Sony 55-inch 4K UHD smart TV for $598, Echo Show for $179.99 (Reg. $229.99), 30% off on select monitors from Dell and Samsung and Echo Dot for $29.99 ($20 off the regular price). Notably, Amazon’s Echo Dot is touted as the lowest price for the device ever.
The company is also offering 30% off on select LEGO sets, 25% off on select Dyson vacuums, and up to 60% off on select athletic and casual shoes. Amazon has a Zacks Rank #3 (Hold) with a Growth Style Score of B.
Brick-and-mortar chains have also become aggressive in chasing online customers. Wal-Mart (WMT – Free Report) kicked off Cyber Monday deals at 12 a.m. The retailer has rolled over some deals from Black Friday, like the Microsoft Xbox One S for $189 (Reg. $279) and Bose QuietComfort Noise-cancelling Headphones for $179 (Reg. $279). Additionally, it is offering new exciting deals such as RCA 55” 4K Roku Smart HDR LED TV for $379 (Reg. $799), Barbie Hello Dreamhouse for $199 (Reg. $299), and the Dyson DC59 Slim Cord-free Vacuum for $189 (Reg. $249).
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