Cyber Monday Sales Hit $3 Billion; Target’s Site Overwhelmed

Cyber Monday finished strong, with Adobe estimating a 12% gain to a record $2.98 billion. And for the full holiday weekend, it says online sales jumped 15% to $11 billion. IBM Watson is reporting an even stronger day, with a 17.3% increase in Cyber Monday sales, and an average order of $126.87.An impressive amount of those sales came from mobile, which IBM says made up 44.7% of the day’s online traffic, a 16.9% rise from last year. And 27% of all online sales came from mobile devices, a gain of 32.6% from 2014.Adobe says sales were so brisk that out-of-stock rates hit an all-time high, with 13 out of 100 product views showing an out-of-stock message. That’s about twice the normal rate, with Star Wars figures and video game bundles (PS4 Disney Infinity and Battlefront Bundles), Xbox One Fallout 4 and Halo Bundles, and Lego Star Wars Advent Calendar among the hardest to find.“Online traffic was so astronomical that several retailers experienced temporary outages and slow checkouts, but that didn’t stall consumer spending,” says Tamara Gaffney, principal analyst of Adobe Digital Index, in its end-of-day tally. “Dallas-Fort Worth, Chicago and Los Angeles were the largest metropolitan areas with the highest online sales growth between Thanksgiving and Sunday.”

Source: Cyber Monday Sales Hit $3 Billion; Target’s Site Overwhelmed 12/01/2015

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