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Holiday shoppers aren’t headed to the store today. But they’re still spending.
Cyber Monday shoppers have already spent, $473 million in online sales as of 9:00 a.m. ET, according to data released by Adobe Analytics, which monitors the online transactions of 80 of the top 100 web retailers in the U.S.
Cyber Monday online sales are on track to hit $9.4 billion, or 18.9% year-over-year growth according to preliminary data, Adobe said.
Last year, Cyber Monday sales hit $7.9 billion.
This year, shoppers didn’t wait until Cyber Monday to start their online shopping. Retailers began sales earlier in the month and lines were thin at stores on Black Friday as deals began on Thanksgiving day.
Black Friday was predicted to be the busiest shopping day of the year in the U.S. for shoppers to head out to stores, but even on that day people were loading up online shopping carts. Online spending hit a record of $5.4 billion, up 22.3% from a year ago, according to Adobe data Sunday night.
“The department stores are still a little bit slower,” Telsey said.
These big-box stores have proven themselves in online sales. Walmart and Target both saw bigger jumps than Amazon in online customer spending during the first two weeks of November from last year, according to Edison Trends, which looked at more than 1.2 million transactions.
Nordstrom saw the biggest increase in online sales during Black Friday compared with last year, at 60%, followed by Walmart at 53% and Amazon at 49%, according to an analysis of about 300,000 transactions done by Edison Trends. Target saw its online sales fall around 12% on Black Friday, while J.C. Penney‘s fell around 14%.
As retailers battle Amazon and one another for customers, they are investing in e-commerce enhancements and integrating their e-commerce options with brick-and-mortar stores. Stores have been adding more products to their online shops and offering new ways for customers to shop, like in-store pick up of items ordered online and direct shipping.
Retailers aren’t necessarily hiking their discounts from last year to snag customers. The majority of retailers’ promotions on Black Friday were flat this year compared to last year, according to a survey of 54 retailers by Jefferies. Promotions from 33 retailers, including Gap, were flat compared to last year. Meanwhile, 18 saw higher promos, including L Brands’ Victoria’s Secret and Pink, and 3 saw lower promos than last year, including Ugg.