- Title: Cyber Monday to hit record $3.36 billion - Adobe
- Date: 28th November 2016
- Summary: NEW YORK, NEW YORK, UNITED STATES (NOVEMBER 28, 2016) (REUTERS) (SOUNDBITE) (English) ADOBE SYSTEMS, INC., PRINCIPAL ANALYST AND DIRECTOR, TAMARA GAFFNEY, SAYING: "The Cyber Monday, Black Friday, this whole weekend's worth of shopping, is really critical. In fact, for products that are introduced around this time of year, about 25 percent of their annual revenue will come in this weekend if it was just introduced."
- Embargoed: 13th December 2016 19:32
- Keywords: Cyber Monday sales retail shopping online internet checkout basket
- Location: NEW YORK, NEW YORK, UNITED STATES / INTERNET
- City: NEW YORK, NEW YORK, UNITED STATES / INTERNET
- Country: USA
- Topics: Economic Events
- Reuters ID: LVA0085AD0EX9
- Aspect Ratio: 16:9
- Story Text: Online shoppers have spent more than half a billion dollars between Midnight and 10 a.m. eastern on Cyber Monday, according to Adobe. The company sees sales hit $3.36 billion by the time the day is over.
"There is a lot of shopping going on still," said Adobe's Tamara Gaffney. "It doesn't seem like the appetite has run out yet. We're expecting a little over a nine percent year-over-year increase."
Mobile shopping in early morning hours accounted for $205 million.
Top-sellers included Sony PS4 and Microsoft Xbox, Lego sets, Barbie, and Little Live Pets.
Adobe says, to-date, the holiday shopping season, which started on November 1st, has totaled $36.5 billion in online revenue, a more than seven percent increase year-over-year.
And it's a growing trend. Another company that tracks retail sector, IBM, said that in the weeks leading up to the holiday weekend, online shopping was up nearly ten percent from a year ago. - Copyright Holder: REUTERS
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