Cyber Monday is blowing out expectations.
This year's online shopping holiday is on track to become the largest U.S. online shopping day in history, according to data from Adobe Analytics.
As of this morning at 10 am ET, $840 million was spent online shopping, that marks a 16.9% year-over-year increase. Overall web traffic is higher 12% year-over-year.
"Cyber Monday is expected to make history again as the biggest U.S. online shopping day of all time, driving a billion dollars more than last year. As consumers make their way back to work, they are poised to be hitting the buy button all day, as most big discounts will end by midnight. A lot more of this will be happening on smartphones as well, where smoother buying experiences through auto-fill capabilities are helping drive the growth we see in mobile," said Tamara Gaffney, Strategic Insights Engagement Group Director, Adobe.
Mobile traffic has set a new record, accounting for 53.3% of visits, with 44.6% coming from smartphones and 8.7% from tablets. Smartphone traffic is up 21% year-over-year, while revenue from purchases made on smartphones is higher 41% year-over-year, a new record high. Additionally, 39.7% of all revenue has come from mobile, with 29.8% from smartphones and 9.9% from tablets.
Overall, the holiday season to date between November 1 and November 26, has seen a total of $43.42 billion spent online, 16.8% growth year-over-year. All 26 days so far have exceeded $1 billion, versus 24 of 26 days in 2016.
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