Minnesotans Spent $250M On Cyber Monday
Online shopping data spanning from Thanksgiving Day to Cyber Monday shows Minnesota shoppers spent $250 million this year, a roughly 17 percent jump from a year ago.
Counting all 50 states, a record-breaking $12.8 billion was spent during the five-day period. That’s over 15 percent more than what Americans spent in 2015.
To gather the holiday shopping data, Adobe Digital Insights evaluates four out of every five transactions from the top 100 U.S. retailers. Through that process, Adobe was able to determine that the Sony Playstation 4, iPad Air 2 and Samsung 4K TVs are among the hottest-selling items.
Target was one of the most mentioned online retailers on social media on Cyber Monday, Adobe found. The Minneapolis-based retailer was ranked sixth in a top 10 list that led, in order, with eBay, Amazon, Macys, Walmart, and H&M.
To drive attention to its sales, Target announced a 15 percent off deal that applied to all in-store and online purchases on Sunday and Monday. The offer led the retailer to its best-ever Black Friday performance on its website.
From November 1st to the 28th, about $40 billion was spent online, not counting in-store purchases. Data totaling all in-store purchases made in the U.S. during November has not been released, but it is estimated that 154 million consumers spent an average of $289.19 on Black Friday alone — amounting to roughly $44.5 billion. That’s on top of the $15.4 billion that was reportedly spent at independent retailers and restaurants on Small Business Saturday.
Looking ahead to December, Tamara Gaffney, principal analyst at Adobe Digital Insights, said retailers will be shifting their sales tactics. “Prices are expected to start climbing,” she said, “as retailers shift attention to extend the season late into December with quick shipping deals and the option to click and collect in store.”
Among Minnesota’s top big-box retailers, free shipping and in-store pickup are options that both Target and Best Buy have said they will be using to entice customers until the year’s end.