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Don't be Fooled by Amazon's 'Weak' Cyber Monday Sales

Don't be Fooled by Amazon's 'Weak' Cyber Monday Sales

Everyone thinks that the best deals of the shopping season can only be found on Black Friday and Cyber Monday, but guess what: retailers still have tons of inventory that they want to move before the holidays arrive and shopping dies down until next year.

Adobe has also confirmed that the best-selling gadgets for this early part of Monday include the Microsoft Xbox, Sony PS4, and Samsung 4K resolution TVs.

"Cyber Monday is on track to be the biggest online shopping day ever, surpassing our forecast by nearly $27 million or 0.8 percent", said Tamara Gaffney, principal analyst, Adobe Digital Insights.

2016's Cyber Monday is not yet over but Amazon has already made a statement that this could be their best Cyber Monday in history as millions of Americans are shopping online this year. More people shopped online between Thanksgiving Day and Sunday than in an actual store, with 43.8% using a smartphone, tablet or computer to peruse clothing, toys or other items, according to the NRF.

From Nov. 1 to Nov. 28, online revenue totaled $39.97 billion, a 7.6 percent increase compared to previous year, according to Adobe.

ADI analysts forecast consumers will spend $91.6 billion online during the holiday season, November 1 - December 31, 2016. Interestingly, this was $130 million less than Black Friday.

$3.36 billion: Projected Cyber Monday spending total, up 9.4 percent from a year ago, according to Adobe Systems Inc.

The majority of visits to retail websites during Cyber Monday were from mobile devices, with 44 percent coming from smartphones and 9 percent from tablets, for a total of 53 percent.

Still, the deals began earlier this year, with people hunting for Black Friday specials as early as November 1.

Among toys, Lego sets were No. 1, followed by Shopkins, Nerf, Barbie and Little Live Pets. This indicates that consumers still had more appetite for online shopping despite the incredible volume of online sales on Black Friday. Referral sites like RetailMeNot drove 16% of sales and email drove 18.1% of sales.

More telling, say retail experts, it showed the narrowed gap between venturing to physical stores and clicking a mouse to make a purchase. Adobe said today that revenues for Cyber Monday 2016 hit a new record of $3.39 billion, narrowly ahead of Black Friday's numbers.