Cyber Monday Sales Rocket to $6.6 Billion

Macy's officials say Black Friday credit card, gift card glitches resolved

US online sales climb to record high on Black Friday and Thanksgiving

Another year, another Cyber Monday online shopping frenzy has wrapped up.

On a more positive note for the beleagured retail sector, U.S. online shopping was booming on Friday.

It's also worth noting that many retail chains kicked off their Black Friday sales early in November.

Cyber Monday sales, critical to e-commerce revenue for the holiday season, surged 16.8% to $6.59 billion, according to industry research.

"As Gen Z and millennials get older, their purchasing power increases, and the rise in disposable income is sure to be seen by retailers", said Matthew Shay, NRF president and CEO.

Top sellout products: The items that sold out the quickest these holidays were accessories (29 percent), tops (20 percent), footwear (17 percent), dresses (8 percent) and bottoms (8 percent).

Looking at both Thanksgiving Day and Black Friday, however, in-store foot traffic was actually down almost 2% compared to the same two days a year ago.

According to figures from Adobe Analytics, customers spent a record-high $5 billion on Black Friday alone, compared to $3.34 billion a year ago and according to marketing firm Criteo, around 40% of sales were made on mobile devices. Mobile sales on Cyber Monday reached $2 billion for the first time.

Mobile posted new records in representing 47.4% of all visits including 39.9% for smartphones and 7.6% for tablets, while it took in 33.1% of revenue that was distributed by 24% for smartphones and 9% for tablets.

Mericle said consumers are becoming more savvy and efficient online shoppers.

All of that chimes with a statement from Amazon that noted that mobile app orders were up 50% on Thursday compared to Thanksgiving 2016.

Just because the end is not here for brick-and-mortar stores does not mean traditional retailers have nothing to fear. RetailNext, another analytics firm, said in-store foot.

"There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail, and the fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and, when done right, profitable", said Brian Field, senior director of advisory services for ShopperTrak. That would make it the biggest online shopping day in history.

It should also be noted that despite the discounts to 90% in the United States of America, not all products can be purchased at online stores.

The largest discounts on Cyber Monday were on toys with discounts averaging nearly 19%, followed by televisions with discounts averaging 16.5% and computers with average discounts of 14.7%.

'SNL' announces December hosts: Saoirse Ronan, James Franco, Kevin Hart
US Navy plane has 'unsafe' encounter with Russian jet