Cyber Monday Optimism: Amazon Will Get Half Of Retail Earnings Growth -

Cyber Monday Optimism: Amazon Will Get Half Of Retail Earnings Growth

Nov 26, 2018Jeremy ParkinsonFinance, No picture0

Online sales are stealing the show this holiday shopping season. Amazon is pressuring brick-and-mortar profits.

Cyber Monday is expected to set a New US Record Online Shopping Day but it will also test the limits of retailers’ e-commerce operations.

Target and Amazon.com are pulling out all the stops to get customers’ attention by offering deliveries with no minimum order limits and bombarding shoppers with a slew of promotional emails.

The much-hyped marketing event is expected to bring in more than $3 billion in online, e-commerce sales volume, above the $2.4 billion logged last year, according to Mastercard SpendingPulse that measures total U.S. retail sales across all payment types.

But some of the promotional efforts ahead of the day drew the ire of several people who complained that they woke up to a deluge of cyber Monday emails compared to years past.

“Yes retailers, I’m aware it’s Cyber Monday even without the 150 emails,” tweeted Keina (@RealMamaEagle), a user from Delaware.

Online Splurge Started Thanksgiving

The holiday splurge started last week as Thanksgiving Day Online Retail Sales Jumped 28% from Last Year.

Shoppers not only filled their plates on Thanksgiving day but also their online shopping carts with online spending reaching $3.7 billion, up 28% from last year, according to Adobe Analytics data.

Many customers went online using their mobile devices, with smartphones driving a record 54.4% of traffic on Thanksgiving day, Adobe ADBE, -1.28% said. The devices captured a 36.7% share of revenue.

“While mobile remains strong, retailers have missed out on $4.3 billion in potential revenue from smartphones this season due to cart abandonment,” Adobe said in a report published late Thursday. Adobe posted their final Thanksgiving shopping numbers Friday morning.

These early numbers are on track to confirm Adobe’s forecast that mobile shopping will hit a “landmark” this holiday season. Salesforce.com Inc. took its prediction a step further, saying that this year mobile will “dominate both traffic and orders.”