Cyber Monday 2020 was the biggest digital shopping day in U.S. history, says Adobe. Americans spent $10.8 billion on Cyber Monday, up 15.1% from last year’s $9.4 billion.
Much of that happened in the last few hours of the day.
Apparently, high-pressure limited time offers work.
“Consumers wanting to take advantage of time-sensitive deals drove massive growth in the final hours of Cyber Monday,” Adobe says. “During the ‘golden hours of retail’ (7 – 11 pm Pacific), consumers spent $2.7B. These last four hours account for 25% of the day’s revenue, with the peak hour between 8 – 9 pm Pacific reaching a purchasing rate of $12 million/minute.”
Interestingly, these record results are not quite as high as Adobe’s very aggressive predictions.
Want weekly updates? Of course you do …