Cyber Monday online sales globally are on pace to rise 12% above last year to $30 billion (from $26 billion last year), according to Salesforce research emailed to Retail Dive. In the U.S., the day’s digital sales are expected to grow 15% year over year to $8 billion from $7 billion last year, according to the report.
Adobe Analytics, which measures transactions from 80 of 100 major U.S. online retailers, tops that, forecasting a new record of $9.4 billion in sales, an 18.9% increase over last year. By 9 a.m. Eastern time Cyber Monday, merchants had already done $473 million in online business, Adobe said.
Marketing for the holiday sales event began in earnest on Sunday and promotions echoed Black Friday price cuts, Telsey Advisory Group analysts said in emailed comments. Discounting “has intensified from luxury on down,” according to a note from MKM Partners.