Cyber Monday was a good one for many retailers, with sales expected to top $7.9 billion.
That represents an increase of 17.9% over last year, according to figures from Adobe Analytics, and made Monday the biggest online shopping day in U.S. history. By comparison, Thanksgiving day and Black Friday brought in $3.7 billion and $6.2 billion respectively, following by billions more in online sales throughout the weekend.
Boosted by a strong economy, retail industry analysts anticipate robust holiday sales this year, both on and offline.
"Black Friday kicked the holiday shopping season into high gear, driven by positive consumer sentiment and great deals from retailers. When consumers think of Thanksgiving Weekend and Cyber Monday, they think of big brands and great deals, and an omnichannel experience offers the best of both worlds," said Tom McGee, CEO of the International Council of Shopping Centers. "To capitalize on this, retailers are doubling down on experience and promotion, and so far the results have been impressive."
An estimated 151 million people visited a mall or shopping center over the weekend, according to the ICSC, and spent an average of $222.70 each on Thanksgiving Day and Black Friday.
All told, approximately 164 million Americans shop during the five-day period between Thanksgiving and Cyber Monday, according to an estimate the National Retail Federation. And the crucial shopping period kicks off what is expected to be a record-breaking holiday shopping season, at $720.89 billion in total holiday retail sales expected for November and December.
On Monday, stocks got a boost alongside strong Thanksgiving weekend sales figures. Most retailers saw shares trade higher on Cyber Monday, with Etsy (ETSY) up 6.54%, Amazon (AMZN) adding over 5.28%, Target (TGT) , 2.90%, eBay (EBAY) , about 1.27% and Kohl's (KSS) about 2.87%.
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