{"id":53440,"date":"2017-11-28T05:52:15","date_gmt":"2017-11-28T05:52:15","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=53440"},"modified":"2017-11-28T05:52:15","modified_gmt":"2017-11-28T05:52:15","slug":"u-s-cyber-monday-sales-jump-17-percent-on-pace-for-record","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/u-s-cyber-monday-sales-jump-17-percent-on-pace-for-record.html","title":{"rendered":"U.S. Cyber Monday sales jump 17 percent, on pace for record"},"content":{"rendered":"

U.S. Cyber Monday sales jump 17 percent, on pace for record<\/span><\/strong><\/span><\/h2>\n

Cyber Monday was on track to become the biggest-ever internet shopping day in the United States as people snapped up bargains on toys and electronics, with many more buying from their phones.<\/span><\/p>\n

The shopping event is expected to generate $6.6 billion in sales, up from $5.6 billion a year ago, according to Adobe Analytics, which measured 80 percent of all online transactions from the top 100 U.S. web retailers. As of 10:00 p.m. EST (03:00 GMT), revenue from smartphones was $1.12 billion.<\/span><\/p>\n

The buying frenzy has gone on for the better part of a week. Amazon.com Inc said it broke sales records this weekend and was on pace to do so on Cyber Monday. Thanksgiving and Black Friday, during which shoppers spent $7.9 billion, according to Adobe, had also generated record online sales.<\/span><\/p>\n

The world\u2019s biggest shopping event was China\u2019s Singles\u2019 Day earlier this month, in which Alibaba Group Holding Ltd reported sales of $25.4 billion.<\/span><\/p>\n

Online sales have brightened the overall outlook for traditional U.S. retailers that have expanded beyond brick-and-mortar. However, the availability of deals and promotions for weeks hurt foot traffic at stores.<\/span><\/p>\n

The lengthening of the holiday shopping season has had another effect, too: many Cyber Monday promotions were run of the mill.<\/span><\/p>\n

\u201cIt\u2019s not as exciting as what the marketing makes it out to be,\u201d said Guru Hariharan, CEO of e-commerce software firm Boomerang Commerce, in Mountain View, California. \u201cThe majority of these \u2018deals\u2019 have been around since early November, or late October.\u201d<\/span><\/p>\n

Amazon came under criticism this year for marketing discounts off list prices it infrequently charges, so shoppers perceive their purchases to be bargains – an allegation it has denied.<\/span><\/p>\n

According to an analysis by Boomerang Commerce, online retailers including Amazon were offering bigger savings for more of their most popular toys this year than last. Amazon said it sold 3 million toys halfway through Cyber Monday.<\/span><\/p>\n

Top rival Wal-Mart Stores Inc is within striking distance of matching Amazon\u2019s online prices for the first time, a key milestone in its effort to regain the \u201clow price leader\u201d title, data gathered for Reuters show.<\/span><\/p>\n

Amazon shares closed up 0.8 percent, while Wal-Mart and Target Corp shares were about flat. J.C. Penney Company Inc closed up 3 percent, and Macy\u2019s Inc closed up 0.7 percent.<\/span><\/p>\n

Source:-\u00a0https:\/\/in.reuters.com\/article\/usa-holidayshopping-stocks\/u-s-cyber-monday-sales-jump-17-percent-on-pace-for-record-idINKBN1DR1U0<\/span><\/p>\n

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