Cyber Monday Online Sales Predicted to Reach $3B for 1st Time

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Shoppers stroll along the Third Street Promenade in Santa Monica on Black Friday, traditionally considered the start of the holiday shopping season. (Credit: Luis Sinco / Los Angeles Times)

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Consumers are expected to click “proceed to checkout” with their online shopping carts in record numbers this Cyber Monday in what is still the biggest online shopping day of the year.

Online sales for this Cyber Monday are expected to total $3 billion for the first time, a 12% increase from a year ago, the digital marketing and media firm Adobe Systems Inc. predicts.

That’s also a 50% surge from Cyber Monday’s sales of $2 billion only three years ago, said Tamara Gaffney, principal research analyst at Adobe’s Digital Index division.

And roughly 75% of this year’s dollars will be spent on just 1% of the product categories available — namely computers, televisions, phones, video games and other electronics, along with gift cards and toys — because people tend to buy more expensive items during the holidays, she said.

Click here to read the full story on LATimes.com.

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