Cyber Monday is expected to become the largest online shopping day in history, generating US 6.6 billion in sales, 16.5 % growth compared to 2016, according to Adobe’s prediction.
Also, the survey results show that online sales will be USD 107.4 billion, an increase of 13.8%, while in-store retail is expected to grow 10%. Based on Adobe Analytics, the company expects that sales on Thanksgiving Day to increase 15% YoY to USD 2.8 billion.
One out of every six dollars this holiday season will be spent between Thanksgiving and Cyber Monday, leading to USD 19.7 billion in sales. The most anticipated gifts include Hasbro NERF guns, Nintendo Switch, Apple Air Pods and Sony PlayStation VR.
While large retailers (more than USD 100 million in annual revenue) will see higher order values and desktop conversion rates than smaller retailers (less than USD 10 million in annual revenue), the latter are expected to have the mobile advantage with a higher average conversion rate of 1.9% by attracting more shoppers with an intent to buy.
Adobe Analytics data also forecasts that shoppers will gravitate towards purchasing more lower-priced items online as opposed to big ticket items. While toys and apparel saw a 39% and 20% unit growth respectively last holiday season, jewellery sales came in low, with a 3% decline in unit growth. These trends are expected to continue this season.
Adobe’s retail report is based on an analysis of one trillion visits to over 4,500 retail sites and 55 million SKUs. Adobe leverages Adobe Sensei, Adobe’s artificial intelligence and machine learning framework, to identify retail insights from trillions of data points that flow through Adobe Analytics, part of Adobe Analytics Cloud in Adobe Experience Cloud.