Cyber Monday heading to $3B sales record

Cyber Monday started off strong and is on track to reach $3 billion in sales for the day, making it the largest day for online sales ever.

By early morning, close to $490 million had already been spent, according to Adobe. That's a new record and 14 percent more compared to the same period last year. Adobe expects Cyber Monday to hit $3 billion in online sales, shattering even more records.

But out-of-stocks are also at an all-time high, with 15 out of 100 product views returning an out-of-stock message this morning, 2.5 times the normal rate. Product categories with the highest out-of-stock risk included typical gift items such as toys, electronics and video games. Star Wars branded goods were among the fastest moving and most likely to be sold out.

Mobile growth was strong and accounted for 53 percent of all shopping visits and 32 percent of online sales, mostly from smartphones. And social buzz for Cyber Monday was largely positive, with a higher social sentiment than Black Friday—55 percent of Cyber Monday mentions were related to joy or admiration versus only 40 percent for Black Friday.  

"Consumers are hyped for Cyber Monday, with social buzz more positive than what we saw on Black Friday, but they need to brace themselves for the highest out-of-stock rates of the season so far, particularly for coveted Star Wars toys," said Tamara Gaffney, principal analyst, Adobe Digital Index. "All in all, we are on track to hit a record $3 billion in sales, crowning what's been a banner year for online sales."

Amazon is currently leading social media buzz for Cyber Monday with eBay a close second.

Related stories:
Holiday Web traffic peaked on Cyber Monday 2014
Cyber Monday heaviest online sales day in U.S. history
Black Friday slow following strong Thanksgiving
Walmart starts Cyber Monday on Sunday
52% of shoppers research holiday purchases online

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