Cyber Monday sales biggest online shopping day in U.S. history
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- Third-Party Said Interested in PrivateBancorp (PVTB) as CIBC (CM) Deal is Delayed
Workers process outgoing shipments at an Amazon Fulfillment Center on Cyber Monday in Tracy, California, U.S. November 28, 2016. REUTERS/Noah Berger
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
By Siddharth Cavale
(Reuters) - Shoppers spent $3.45 billion on Cyber Monday on Samsung 4K TVs, PlayStation 4s and Barbie dolls among other products, marking the largest online sales day in U.S. history.
The data compiled by Adobe Digital Insights, easily surpassed prior estimates, and dismissed fears that strong web sales during the Thanksgiving weekend would hurt sales on Cyber Monday - the busiest day of the year for internet shopping historically.
It also underscored the broader shift to shopping online, which is making up for slower spending in stores.
Cyber Monday sales jumped 12.1 percent year-over-year and surpassed initial expectations that called for total sales of $3.36 billion, according to Adobe Digital Insights.
Top-selling electronics by units on the day include Sony's <6758.T> PlayStation 4 and Microsoft's (NASDAQ: MSFT) Xbox gaming consoles as well as Samsung <005930.KS> 4K TVs, Apple (NASDAQ: AAPL) iPhones and Amazon's (NASDAQ: AMZN) Fire tablets.
Adobe collects the data by measuring 80 percent of all online transactions from the top 100 U.S. retailers. Of every $10 spent at the top 500 U.S. retailers, $7.50 goes through the Adobe Marketing Cloud sales platform.
(Reporting by Siddharth Cavale in Bengaluru; Editing by Shounak Dasgupta)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Macy's (M), Sears (SHLD), Kohl's Corp. (KSS) Accused of Posting Fake 'Original' Prices - Bloomberg
- Italian tourist shot dead after entering Rio slum on motorcycle
- Greens rally in Michigan as courts in three states weigh recounts