Cyber Monday To Hit A Record $3 Billion In Online Sales
Consumer electronics will be the overwhelmingly predominant product category purchased online this holiday season, a new study by Adobe portends.
According to the company’s Digital Index, based on tens of millions of data points accumulated from its Marketing Cloud service, 76 percent of all online holiday expenditures go to just 1 percent of product SKUs — and 60 percent of that 1 percent is comprised of CE.
Gift cards are the next most-purchased item, at 10 percent, Adobe said.
The finding jibes with a previous study by the International Council of Shopping Centers (ICSC), which found that 51 percent of consumers plan to buy CE this quarter, more than any other product category.
Among the study’s other key findings:
*Online sales on Cyber Monday (Nov. 30) will hit a record $3 billion, a 12 percent increase over last year.
*Nevertheless, Black Friday is growing faster online, up a projected 15 percent this year to $2.7 billion in e-commerce sales, and will overtake Cyber Monday in 2016.
*Thanksgiving is growing the fastest, with a projected 18 percent increase in online sales, to $1.6 billion.
*Total online holiday season sales will increase 11 percent, to $83 billion.
*Mobile will overtake desktop for the first time on Thanksgiving, with 51 percent of traffic originating from phones and tablets.
*Mobile will account for 29 percent of online sales on Thanksgiving, a 12 percent increase year over year, with iOS behind 22 percent of mobile sales, and Android driving just 7 percent.
Adobe says its Digital Index is based on an analysis of aggregated and anonymous data from its Adobe Marketing Cloud, which has tracked over 1 trillion visits to 4,500 websites since 2008 and measures 80 percent of all online purchases at the 100-largest retailers.
Its previous Thanksgiving and Cyber Monday predictions proved accurate within 2 percent, the company said.
Holiday Hit Parade
A dobe compiled a projected holiday hit parade, based on current social offers. Top-selling tech products will include:
1. Apple Watch
Streaming media devices
1. Apple TV
1. PlayStation 4
1. Minecraft, Halo 5 (tie)
3. iPad Mini