By the Numbers
November 28, 2016
Ditch the mall madness and click away: Cyber Monday — the Monday after Black Friday that has become an annual online shopping bonanza — could break new records for holiday sales this year.
Cyber Monday revenues are expected to jump 9.4% to $3.36 billion, according to Adobe’s 2016 Digital Insights shopping predictions1. As consumers continue to shift dollars away from bricks-and-mortar stores toward e-commerce, online sales across the entire holiday season are expected to rise 11% to $91.6 billion, the report said.
Black Friday will likely see hefty online shopping as well. E-commerce sales on the day after Thanksgiving could surpass $3 billion for the first time, rising to $3.05 billion, an 11.3% increase from last year.
Many holiday shoppers may make their purchases using mobile devices. For the first time, mobile will exceed desktops in shopping-related visits – 53% vs. 47% respectively, Adobe said.
But not all retailers will share equally in the online holiday shopping activity. Large retailers are expected to account for the bulk of the growth, with an average increase of 16.6%, compared with smaller retailers, which should see a growth rate of 7%, according to the Adobe forecast.
Maintaining a competitive edge online is a continuing challenge, and some retailers are doing better than others. “E-commerce is fundamentally challenging the business models of many traditional retailers,” said American Funds equity investment analyst Anne-Marie Peterson. “The next decade will present many challenges for traditional U.S. retail companies. It’s also a period in which I expect our long-term perspective and deep company-by-company analysis could prove advantageous.”
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