Half of US consumers will choose to shop via their mobile device this year.
Cyber Monday shopping has become more popular every year. However, what was once a day dominated by online shopping has evolved into one that is slowly being taken over by mobile commerce. In fact, according to a survey by the National Retail Federation (NRF), half of the consumers partaking in Cyber Monday will do so via their smartphones and tablets.
Cyber Monday sales are projected to grow.
More than 164 million Americans will be shopping over this year’s Thanksgiving weekend, according to the NRF survey. An estimated 76 million are planning to shop online on Cyber Monday. This number has made Cyber Monday the largest and fastest-growing online shopping day in the US.
In addition to the NRF survey, Adobe Analytics also provided their projections regarding this year’s Cyber Monday shopping sales and expects a 17.6% YOY (year- over-year) increase in sales. More specifically, Adobe Analytics expects there to be approximately $7.8 billion in sales. This is quite the jump from last year, when Cyber Monday saw an impressive $6.6 billion in online sales.
The significant increase in Cyber Monday shopping is the result of more millennials with buying power.
It should come as no surprise that today’s average consumer prefers the convenience and ease of making their purchases online or via their mobile device. The simple reason for this is that as years have passed since the inception of Cyber Monday, an increasing number of millennials have entered the workforce and now have buying power. Moreover, this generation is comfortable doing the majority of their shopping online, anytime and anywhere, instead of having to physically visit the store where they want to shop.
It has also been estimated by Adobe Analytics that the most popular items to be purchased this year during the Thanksgiving holiday shopping weekend will be 4K TVs, consoles, retro video games and toys. The latter of these items are expected to have the biggest discounts on Cyber Monday.
While only time will tell if the Cyber Monday shopping predictions made by NRF and Adobe Analytics come true, one thing is for certain, billions are certain to be spent on America’s largest online shopping day of the year.