All Eyes on Cyber Monday as Black Friday Sees $9 Billion in Online Spending

Online spending could hit up to $12.7 billion, according to Adobe Analytics data.
Author:
Publish date:

As concerns of the novel coronavirus kept more shoppers than usual indoors over the weekend, online was where it was at on Black Friday, according to Adobe  (ADBE) - Get Report Analytics data, which put digital spending for the day at $9 billion.

The total was a year-over-year increase of 21.6%, according to Adobe; last year's Black Friday online spending was $7.4 billion.

The company says it expects Cyber Monday sales to register between $10.8 billion and $12.7 billion. 

"U.S. consumers spent $6.3 million per minute shopping online on Black Friday," according to a statement by Adobe Analytics. That amounts to around $27.50 on average per person. 

About $3.6 billion was spent via smartphones, while in-store and curbside pickup increased 52%. 

The online shopping bonanza comes amid calls by public health officials to limit gatherings with others to help prevent further spread of Covid-19, which has seen uncontrolled spread across virtually the entire country -- and which topped 13.3 million total known infections by Sunday. 

“We are seeing strong growth as consumers continue to move shopping from offline to online this year,” said Taylor Schreiner, director of Adobe Digital Insights in a statement.

Earlier last week, the National Retail Federation said it saw retail sales rebounding strongly and forecast that holiday sales during November and December -- which includes Black Friday, Small Business Saturday, Cyber Monday and holiday shopping in general -- will increase between 3.6% and 5.2% over 2019 to a total between $755.3 billion and $766.7 billion. 

The numbers exclude automobile dealers, gasoline stations and restaurant  sales.

“We know this holiday season will be unlike any other, and retailers have planned ahead by investing billions of dollars to ensure the health and safety of their employees and customers,” the federation's president and CEO Matthew Shay said in a statement. “Consumers have shown they are excited about the holidays and are willing to spend on gifts that lift the spirits of family and friends after such a challenging year. We expect a strong finish to the holiday season, and will continue to work with municipal and state officials to keep retailers open and the economy moving forward at this critical time.”