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Cyber Monday sales record as consumers splash out on toys and electronics, according to a report

2022/11/29 (Nov 29th, 2022 11:51 pm)
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Nov. 29 – According to data from Adobe Analytics, discount-seeking consumers purchased more Pokemon cards, TVs, and air fryers on Cyber Monday, driving sales to $11.3 billion and making it the largest U.S. online shopping day in history.

According to data from Adobe Analytics, which gauges e-commerce performance by examining purchases at 85% of the top 100 internet retailers in the United States, sales increased 5.8% from a year ago, unadjusted for inflation.

Major retailers like Target (TGT.N), Macy’s (M.N), and Best Buy (BBY.N) have all indicated a return to pre-pandemic shopping patterns and the need to offer deeper discounts during the customary single-day sales.

According to the Adobe Analytics report, toys were the most popular items on Cyber Monday, with online sales increasing by almost eight times when compared to an average day in October 2022.

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Sales of sporting goods, appliances, and books all increased by well over 400%, while sales of electronics increased by nearly five times as much.

According to the report, some of the top-selling items included Pokemon cards, Hot Wheels, PlayStation 5s, Smart TVs, and Apple AirPods.

Online payment services company Shopify Inc. (SHOP.TO) reported on Tuesday that retailers using its platform generated a record $7.5 billion in sales worldwide from Black Friday through Cyber Monday.

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