The cooking and feasting may be over, but Americans across the country aren't done with one final task: shopping.
Adobe Digital Insights projects that Cyber Monday sales will hit $3.36 billion this year, up 9.4% over last year. It's expected to be the largest online shopping day in history.
About 122 million Americans plan to shop on Monday, up from 121 million last year, the National Retail Federation reported. About 23% of those shoppers plan to shop on their mobile devices on Cyber Monday. So far this weekend, mobile devices have accounted for more than half of all online visits and about a third of all online sales.
"Cyber Monday deals have become something that smart shoppers rely on, and this year is no different," Prosper Insights & Analytics consumer analyst Pam Goodfellow said. "Consumers wake up early ready to shop at their favorite retailers for the items they've had their eye on all season."
Some items will have better sales than others, however. Adobe estimates that Cyber Monday will be the best day for shoppers to browse toys, with average sales projected at 13%.
Mizuho analyst Neil Doshi said that retailers like Amazon (AMZN) , eBay (EBAY) and Alphabet (GOOGL) are best poised to benefit from strong e-commerce sales over Thanksgiving and Cyber Monday. "Furthermore, we believe that mobile conversion could be nearing a tipping point which would benefit the online players as well."
Cantor Fitzgerald's Youssef Squali said in an analyst note on Monday that the trend toward mobile could be driven "by a combination of factors, including in-store comparison shopping, improving mobile experiences and larger mobile screen sizes." Squali added that Amazon could gain from the shift toward mobile.
Amazon is held in the Growth Seeker portfolio. See all of the holdings with a free trial.