This is How Much Consumers are Expected to Spend on Cyber Monday

With the Thanksgiving holiday comes a lot of shopping. Sales already start on Thanksgiving night in many stores and then its Black Friday the next day. Sales also extend into the weekend ahead of Cyber Monday, another day of big sales.

Needless to say, Americans are doing a lot of shopping in the last week. According to Adobe Insights, which measures 80 percent of online transactions from 100 major U.S. retailers such as Walmart and Amazon, sales on Cyber Monday are expected to hit $7.8 billion by the end of the day. This could be the largest online shopping day in the history of the United States.

Adobe made the forecast at 10:30 a.m. ET where there was already an increase of 18.3% compared to Cyber Monday
last year at the same time.

“While certain discounts have remained since Black Friday, out-of-stock rates are starting to peak up and shoppers looking for the hottest products should not wait much longer,” said Taylor Schreiner a director at Adobe Digital Insights.

Online sales on Thanksgiving Day totaled $3.7 billion, up 28 percent from a year ago, making that day the fastest-growing day for e-commerce sales in history. Black Friday made $6.22 billion in online sales, up 23.6 percent from a year ago and also setting a new high, according to Adobe.