Photo: Intel Free Press/Wikimedia Commons
Americans spent $ 6.59 billion this Cyber Monday, making it the largest online shopping day with phone sales touching $ 2 billion in a single day for the first time.
The figures were revealed in an Adobe Insight in its final update of the transactions track on the holiday shopping boom.
While the total digital sales are up by 16.8 percent increase from last year, phone sales shot up by 39 percent from last year.
Adobe’s research is based on a measurement of online transactions from 100 American mega retailers, and it has predicted online spending to be $100 billion in by the end of 2017.
Thanksgiving and Black Friday online sales totaled $ 7.9 billion, making November a huge month for several tech products.
A record $6.59 billion was spent online by the end of #CyberMonday making it the largest online shopping day in history, and mobile set a new record with its first $2 billion dollar day. https://t.co/IYN3k3dfse pic.twitter.com/XItayR5fyk
— Adobe Insights (@AdobeInsights) November 28, 2017
The holiday season also marks a high level of consumer confidence.
The Conference Board’s measure of consumer confidence rocketed to 129.5, the highest level since 2000.
“Consumer confidence increased for a fifth consecutive month and remains at a 17-year high,”
Lynn Franco, Director of Economic Indicators at The Conference Board, said according to a CNBC report..
“Consumers are entering the holiday season in very high spirits and foresee the economy expanding at a healthy pace into the early months of 2018,” Franco added.
