Cyber Monday is no longer just the Monday after Thanksgiving -- it's encroaching on Black Friday's territory. And as mobile sales continue to explode, Cyber Monday is likely to surpass expectations.
Cantor Ftizgerald analyst Youssef Squali noted that mobile drove 55% of all visits to retail sales and accounted for approximately 37% of all sales this past Thanksgiving and Black Friday, representing the power of smartphones and tablets. "We believe that the shift to mobile is likely driven by a combination of factors, including in-store comparison shopping, improving mobile experiences and larger mobile screen sizes," Squali wrote in a note to clients.
First billion dollar mobile day yesterday https://t.co/ANooRWzPz7— Tamara Gaffney (@tamarag) November 26, 2016
Among those poised to benefit from mobile's growth is Amazon (AMZN) , which has exclusive deals not only for users of its app, but also those of its Amazon Echo assistant. "A key beneficiary of mobile appears to be Amazon, which disclosed that smartphone sales on Black Friday exceeded Thanksgiving and beat last year's Cyber Monday and Black Friday," Squali wrote to clients.
In addition to Amazon, companies such as Target (TGT) , Walmart (WMT) and others are hosting mobile-exclusive deals, as consumers shop from their mobile devices, be it on Cyber Monday or the rest of the holiday shopping season.
"Brick-and-mortar retail is broken and the shift is accelerating to online retail," said Christian Magoon, founder and CEO of Amplify Investments which has $115 million in assets under management. "Traditional retail stocks have been getting pounded this year, but the online slice of the market is projected to grow by double digits -- or more than three times the growth rate expected for all holiday retail sales -- and Cyber Monday will be a catalyst to this success."
Consumer confidence appears to be high going into the start of the holiday shopping season, which could bode well for another record Cyber Monday.