Cyber Monday online sales outperform Black Friday
Initial Cyber Monday results indicate higher e-commerce sales than were recorded on Black Friday.
According to data emailed to Chain Store Age from Criteo, during the first 12 hours of Cyber Monday, Dec. 2 (midnight to noon ET), online transactions surged by 14% year-over-year and 2% from Black Friday, with unit sales experiencing double-digit growth across multiple verticals including:
- Luggages & bags: 41%
- Animals & pet supplies: +33%
- Apparel & accessories: +33%
- Cameras & optics: +23%
- Sporting goods : +22%
In addition, Quantum Metric emailed analysis of Cyber Monday online sales between midnight and 12:30 p.m. ET to Chain Store Age, finding it will continue to be the biggest online purchasing day of the year with conversion rates 35% higher than what was seen mid-day on Black Friday, but down 6% compared to the same timeframe on Cyber Monday 2023.
Quantum Metric also found that average order values during the first half of Cyber Monday were slightly higher than Black Friday (up 4%) and also up 2% year-over-year. Other findings include:
- Mobile is now driving 80% of traffic and 70% of sales (a big shift for Cyber Monday when many shoppers are traditionally on a laptop or desktop.)
- Abandoned carts are down 10% year-over-year.
According to Adobe Analytics data, consumers spent a record $10.8 billion online during Black Friday (Nov. 29), up 10.2% year-over-year from $9.8 billion and more than double the $5.03 billion consumers spent online during Black Friday 2017.
Cyber Monday online sales expected to hit $13.2 billion
Adobe expects consumers will spend a record $13.2 billion on Cyber Monday, Dec. 2, up 6.1% year-over-year from $12.4 billion. BNPL usage is expected to reach $993 million, a 5.6% year-over-year increase.
On Cyber Monday, Adobe predicts mobile devices will drive 54% of online sales, representing $7.1 billion in spend and up 14.5% year-over-year.
Meanwhile, Salesforce expects Cyber Monday will drive $51 billion in global sales and $13.5 billion in the U.S., up 5.3% from $48.4 billion globally and a 7.1% jump from $12.6 billion in the U.S in 2023.
[READ MORE: Adobe: Initial holiday e-commerce spending up 10%, passes $77 billion]
