Forget Black Friday, Cyber Monday 2018, is expected to be the biggest online shopping day in history, generating an enormous $7.8 billion in sales, more than a 17 percent increase compared to last year.
Adobe Analytics, which tracks online sales, has made the prediction, as reported by CNN Business.
Online competition between retailers is set to be fierce with heavy discounts on offer across the board.
Cyber Monday 2018, is expected to be the biggest online shopping day in history, generating an enormous $7.8 billion in sales
Deals are particularly competitive on electrical goods with some retailers offering better discounts than on Black Friday.
On Amazon shoppers can buy Echo Dot (third-gen) for over 50 percent off, while the Polk Audio Command Bar with Alexa comes in at $199 a saving of $100. Amazon’s discounts will last until December 1.
Best Buy (BBY) is offering discounts on a number of electronics like the Microsoft Xbox, Apple Watch Series 3 and Samsung Galaxy phones.
Walmart is rolling back prices on the PS4 Slim bundled with Red Dead Redemption for $199 along with Dyson vacuums.
Adobe Analytics, which tracks online sales, has made the prediction and said it expects there to be more than a 17 percent increase in sales compared to last year
Cyber Monday was invented by retailers in the early days of the internet before online shopping was as popular as it is now but businesses still see it as highly competitive
Macy’s is offering 20 percent off and free shipping on orders over $25. The Gap is offering 50% off every item, plus an additional 10% on online specials. The New Balance website has 25 percent off plus free shipping, while Kohl’s has a 20 percent discount.
Cyber Monday was invented by retailers in the early days of the internet before online shopping was as popular as it is now but competitive retailers still see it as relevant when it comes to winning business and won’t want a let down come Monday.
This year nearly every retailer taking part is offering free shipping.
Adobe Analytics reported that online sales on Black Friday jumped 23.6 percent from a year ago, with $6.22 billion spent by consumers. Adobe Analytics tracks transactions for 80 of the top 100 internet retailers in the U.S. like Walmart and Amazon.
The National Retail Federation has a list of its favorite Cyber Monday deals.