Cyber Monday, the online shopping spectacle, lived up to expectations with sales growing 12 percent year-over-year to a record $2.98 billion, according to Adobe Digital Index.
Deep discounts and flash sales lured shoppers online making it the “largest online sales day in history,” Adobe says, which anonymously tracks data from 80 percent of the nation’s top 100 retailers across 4,500 websites.
On average, shoppers received a 20 percent discount. “Cyber Monday had the most positive social sentiment with 56 percent relating to joy or admiration, versus 40 percent for Black Friday,” Adobe notes.
Savvy shopper sites, such as RetailMeNot, was the most common place people found discounts (32 percent), followed by search ads (26.6 percent) and direct sales (21.3 percent). Despite the looming specter of ad-blockers, display ads saw the largest growth of 50 percent over last year in pointing people to sales.
Demand was so high that out-of-stock rates on the Internet’s most sought-after products, like Star War toys and video game consoles, were more than two times more likely to be sold out compared to any other day. That helps explain why Target briefly buckled yesterday morning because it received an “unprecedented” amount of traffic.
Across the four day weekend, including Thanksgiving and Black Friday, online sales jumped 15 percent over last year totaling $11 billion, accounting for nearly 30 percent of November’s total of $39.5 billion.
There was a two-way tie in brands associated with Cyber Monday. Amazon and Walmart both garnered a lot of mentions online with the former generating the most while Walmart gathered 59 percent as much as Amazon during the same time reports Amobee Brand Intelligence.
Amazon said this morning that its top-selling times were all Amazon-made products, like the Fire TV consoles and tablets.
Images via Shutterstock.
Samsung turns to Discord to build out its metaverse strategy
Discord -- a popular messaging platform for gamers that in recent years has gained more mainstream adoption -- has been increasingly important for Samsung's metaverse strategy.
‘We had to tear up our brief’: AB InBev’s in-house agency founder talks progress on the ground in Cannes
To get a sense of the in-house work AB InBev is doing through agency draftLine, and in light of rumblings of an in-house resurgence as marketers prepare for the pending economic recession, Digiday caught up with Tracy Stallard, draftLine's founder and global CEO, at this year's Cannes festival.
As Cannes winds down, some marketers say want ‘less pageantry and more substance’ from the festival
But after two-years of pandemic lockdown, pending economic recession and other societal uncertainties, marketers and advertisers at this year’s conference say the answers aren’t coming so easily.
SponsoredFor brands, first-party data is unlocking the cookieless ecosystem
Bill Masterson, President, Publishers Clearing House A dominant factor guiding the industry has been that cookies and mobile app IDs are vanishing and will be replaced by some mixture of new and emergent identity solutions. As a result, the market is alive with new and exciting alternatives to replace the third-party browser cookie and mobile […]
On the French Riviera, ad tech braces for a correction
To survive, much less prosper, ad tech vendors have been redefining and expanding what they do -- while carefully sizing up competitors. But tossing out the smaller fish is easier said than done.
Why esports companies are looking beyond competition as they invest more in live events
Although esports events still center around competitive gaming, they are increasingly becoming professional events as well — rare opportunities for those who work in a largely remote industry to come together and hobnob about their work.