Cyber Monday Spending Hits Record High
Cyber Monday online spending rose 17 percent year-over-year to $9.2 billion, according to Business Insider.
According to Adobe Analytics, shoppers spent about $11 million every minute. Furthermore, about $3 billion of total online sales were completed through the use of smartphones.
Cyber Monday 2019 is now the largest online spending day in history. Furthermore, online sales also added $7.4 billion on Saturday and Sunday following Black Friday.
"Retailers unlocked sales earlier to combat a shorter shopping season, while continuing to drive up promotion of the big branded days including Black Friday and Cyber Monday," said John Copeland, the head of marketing and consumer insights at Adobe.
"Consumers capitalized on deals and ramped up spending, especially on smartphones, where activity increased on days when shoppers were snowed or rained in," he continued.
This holiday season was expected to be the largest in history, and after 3 days overall online spending has generated $72.1 billion, growth of 16 percent.