Cyber Monday expected to set new record for online spending
Cyber Monday sales are expected to hit a record $9.4 billion this year, buoyed by a growing number of consumers making purchases over their mobile devices. That represents a roughly 20% jump in spending from last year, according to data from Adobe Analytics.
Some of the hot-ticket items this year include the Nintendo Switch video game console and games such as Madden 20 and FIFA 20. Samsung TVs, Apple laptops and Amazon's Echo "smart" speaker are also top sellers, according to Adobe. Toys from Disney's "Frozen 2" movie franchise also have been popular.
Some analysts attribute the increase in online spending to harsh winter weather across the U.S. The period between Cyber Monday and Christmas is also shorter this year, making for an abridged shopping season. Peak shopping hours on Monday are expected to take place between 10 p.m. and 2 a.m. Eastern time and account for an estimated 30% of the day's overall revenue, according to Adobe.