Cyber Monday sales still on record-setting pace
NEW YORK (CNNMoney) — Cyber Monday is on pace to be the biggest e-commerce sales day of all time.
By Monday evening, Adobe projected that sales would come in just shy of the $3 billion mark. While the projection was lower than it had originally foretasted, it’s still expected to set a record.
The current record for one-day online sales was set last week on Black Friday, when $2.74 billion worth of merchandise was sold.
Retailers had web promotions all weekend, and many major retailers started Cyber Monday a day early and are now promoting deals throughout “Cyber Week.”
But exclusive Monday promotions still managed to attract a surge of shoppers eager to cash in on digital doorbusters and other markdowns online.
Adobe says hot-ticket toys and electronics are selling out quickly. Adobe said that as of 7:30 pm ET on Monday, about 13 of every 100 products shoppers viewed online were out of stock.
“Consumers are hyped for Cyber Monday, with social buzz more positive than what we saw on Black Friday,” said Tamara Gaffney and analyst with Adobe Digital Index. “but they need to brace themselves for the highest out-of-stock rates of the season so far, particularly for coveted Star Wars toys.”