BUSINESS

Cyber Monday Continues To Dominate The Holiday Shopping Season

We just saw the largest online shopping day in U.S. history.

11/29/2016 02:41 pm ET

The “shop ‘til you drop” phrase seems to have lost some of its luster, as Americans pour more of their time ― and money ― into online shopping.

That’s judging from Cyber Monday’s sales, which Adobe Digital Insights estimates topped out around $3.45 billion this year. That makes Cyber Monday 2016 the largest online shopping day in U.S. history. (By comparison, Black Friday pulled in $3.34 billion in online sales.)

Lego, Shopkins (a line of miniaturized dolls), Nerf, Barbie and Little Live Pets (animatronic animals) items were the best-selling toys of the day. 

The top-selling electronic devices ― historically a strong selling category on Cyber Monday ― were Sony’s PlayStation 4, Microsoft’s Xbox, Samsung 4K TVs, Apple iPads and Amazon Fire tablets. 

Bloomberg via Getty Images
Packages move along conveyor belts at a UPS facility in Hodgkins, Illinois, on Cyber Monday.

The price for video game consoles actually went up by about 0.5 percent between Black Friday and Cyber Monday, according to Adobe. But tablets, televisions, toys and pet care supplies all saw price drops of between 12 and 21.5 percent.

Monday’s sales represent a 12.1 percent increase over last year’s figures, surpassing expectations.

Ebay beat out Amazon for the top-selling retailer of the day, followed by Macy’s, Walmart, H&M, Target, Nordstrom, Kohl’s, Home Depot and Gap.

Liza Landsman, chief marketing officer at Jet.com, an online retailer acquired by Walmart earlier this year, believes the November election can help explain the spike in sales.

“The U.S. election dominated the news cycle and the time people spent online, and a lot of what we are seeing online is a condensing of that demand into a shorter time period,” she told Reuters

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