Move over Black Friday -- Cyber Monday is the new king of yearly shopping days.
Adobe reported on Tuesday that Cyber Monday 2017 became the highest grossing online shopping in history with a $6.59 billion in sales.
According to Adobe:
This marks a 16.8 percent year-over-year (YoY) increase as of 10:00 p.m. ET. In comparison, Black Friday and Thanksgiving Day brought in $5.03 billion and $2.87 billion in revenue respectively. Top sellers on Cyber Monday included the Nintendo Switch, PJ Masks and Hatchimals & Colleggtibles figurines, Apple AirPods, streaming devices like Google Chromecast and Roku, and Super Mario Odyssey, the video game. The holiday shopping season so far (November 1 to 27) drove a total of $50 billion in online revenue, a 16.8 percent increase. Adobe predicts this will be the first-ever holiday season to break $100 billion in online sales.
While Black Friday shopping still saw billions in sales across the country, it’s clear that people are beginning to ditch the long wait and frantic rush for items in brick-and-mortar stores for the convenience of shopping from comfort of their own homes.
On an interesting side note, Adobe reported that the prime time hours of Cyber Monday (8-11 pm) were “expected to bring in more online revenue than the average 24-hour day.”
This Cyber Monday marked “the first-ever holiday season to break $100 billion in online sales,” Adobe added. That's a staggering amount of money, further proving that consumer confidence is definitely riding high.
"Consumer confidence increased for a fifth consecutive month and remains at a 17-year high," Lynn Franco, Director of Economic Indicators at The Conference Board, said in a statement.
For coverage of Cyber Monday, watch below: