Cyber Monday: Who Won Online Shopping’s Biggest Day?
(CBS News) — Monday broke shopping records, becoming America’s largest-ever online shopping day. Some $6.6 billion in sales were generated, according to Adobe Analytics, which tracks 80 percent of online shopping activity. By 10 a.m. Monday, $840 million had already been spent online, Adobe said — a jump of 17 percent from the year before.
Spending on Cyber Monday typically peaks in the evening, between 8 and 11 p.m., and shopping activity during that time on Monday exceeded that of a typical 24-hour day, according to Adobe Analytics.
So where are we spending all that money? In a word: Amazon (AMZN). The e-commerce giant accounts for somewhere between 45 percent and 50 percent of all sales by volume, according to separate estimates from SunTrust Robinson Humphrey and GBH Insights.
Amazon’s revenue take is somewhat smaller, thanks to the large number of third-party sellers on its platform. Amazon will have about 24 percent of the online shopping share this holiday season, STRH estimated, up from 20 percent last year.
eBay (EBAY), the online auction site, is the second-largest online shopping site, but its share of sales is in the “high single digits,” said Youssef Squali, managing director and senior analyst at STRH. Walmart (WMT) is No. 3.
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