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Cyber Monday Online Sales Drop due to Early Shopping

Consumers logged online Monday and spent $10.7 billion, marking a 1.4% decrease from year-ago levels on Tuesday by Adobe Analytics. This year’s tally marks the first time Adobe has tracked a slowdown in spending on significant shopping days.

The firm first began reporting on e-commerce in 2012, and it analyzes more than 1 trillion visits to retailers’ websites. Adobe expects the entire holiday season will see record-breaking e-commerce activity as shoppers spread out their dollars over more days. From Nov. 1 through Cyber Monday, consumers in the United States have spent $109.8 billion online, up 11.9% year over year. Consumers purchased more than $3 billion worth of goods, another new milestone.

Cyber Monday Online Sales Drop due to Early ShoppingAdobe anticipates digital sales from Nov. 1 to Dec. 31 will hit $207 billion, which would represent record gains of 10%. Cyber Monday, retailers rang up $10.8 billion in sales on the web, as more people stayed home and avoided shopping in retailers’ stores due to the ongoing coronavirus pandemic. It marked a record day for e-commerce purchases in the U.S.

The decrease in online spending follows a similar pattern that played out on Thanksgiving Day and on Black Friday this year, as shoppers appeared to have spread out their dollars onto more days rather than squeezing their shopping into “Cyber Week.” Some of that behavior has been encouraged by retailers, including e-commerce behemoth Amazon, that have been touting Black Friday-style deals since October.

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