The figures from Cyber Weekend are in and several e-commerce records were broken, showing a healthy start to the shopping season, according to metrics from two key reports issued annually by Adobe and Verizon.
Online shopping on Black Friday hit a record of $5.4 billion, up 22.3 percent from a year ago, Adobe said in its round up. Cyber Monday shopping also broke records with $9.4 billion online spent, which is an increase of 19.7 percent from last year.
Adobe Analytics monitors the online transactions of 80 of the top 100 web retailers in the United States. The firm said retailers with more than $1 billion in annual revenue showed a 540 percent increase in sales on Cyber Monday compared to an average day. Smaller retailers saw a 337 percent increase over a typical day.
Adobe predicts online sales for the entire holiday season will hit $143.8 billion this year. Shoppers have so far spent $81.5 billion online between Nov. 1 and Dec. 2, according to Adobe.
Verizon’s 2019 Holiday Retail Index noted a 13 percent average increase in e-commerce traffic during the extended holiday weekend when compared to November 1-27. There was a 14 percent increase in e-commerce traffic on Black Friday and a 19 percent increase in e-commerce traffic on Saturday, November 30 over the rest of November.
“Over the extended weekend, e-commerce traffic was up an average of 13 percent over the rest of November,” said Michele Dupré, Verizon’s leader for retail, hospitality and distribution. “With Cyber Monday turning into Cyber Week, we expect momentum to carry through the rest of the week.”