Customers looking for discounts to finish their Thanksgiving and Christmas shopping lists are on track to break the previous Cyber Monday sales record . This is because both demand and prices have gone up.
Adobe ( NASDAQ:ADBE ) says that shoppers will spend between $11.2 billion and $11.6 billion on Cyber Monday. This would make it the biggest day for online shopping this year and ever. The $9.12 billion in online spending on Black Friday, the $5.29 billion on Thanksgiving, and the anticipated Cyber Monday sales, according to Adobe, come after those.
Adobe Stock Outlook
Comparatively, according to Adobe ( NASDAQ:ADBE ), $10.7 billion in purchases were made on Cyber Monday in 2016 Vivek Pandya, the principal analyst for Adobe Digital Insights, says that there is a lot of spending momentum leading up to Cyber Monday. He says that this is because customers are more active over the weekend and stores offer big sales.
According to Adobe ( NASDAQ:ADBE ), which showed some of the most interesting parts of its Cyber Monday data, toy sales online went up a lot over the weekend, with an average daily increase of 383% over October. Over the average daily price for October, jewelry went up by 230%, sports goods went up by 239%, and clothes went up by 217%. These were some of the other prominent growth sectors.
Consumers have been very willing to use buy-now, pay-later options, which grew 68% from a year ago during the week of November 21–27, and mobile shopping on their phones, which made up 52% of online orders over the weekend, according to Adobe ( NASDAQ:ADBE ).
Adobe said that toys will be 33% cheaper, TVs will be 15% cheaper, and PCs will be 27% cheaper than their quoted prices. If you’re...
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