By Siddharth Cavale
(Reuters) – Cyber Monday was on track to achieve a record $ 7.8 billion in online sales in the US. UU., Since millions of buyers searched for great discounts on everything from Lego sets to big-screen TVs.
The marketing event was expected to kick off tonight, as buyers from the West Coast will seek after-work deals and those from the East Coast of the US. UU They will make purchases before going to bed, according to Adobe Analytics, which measures the transactions of 80 of the top 100 US retailers. UU
"Many buyers have waited on certain purchases, and three hours tonight are expected to generate as much revenue as an average full day," said Taylor Schreiner, director of Adobe Digital Insights.
Target Corp and Amazon.com Inc. were making all the stops by offering a free delivery without minimum order requirements and bombarding buyers with promotional emails. The companies had registered $ 531 million at 10 a.m. ET, found Adobe Analytics.
Amazon shares rose 5 percent in afternoon trading. Shares of Macy & # 39; s Inc, Kohls Corp and Target also rose.
In a different estimate, Mastercard SpendingPulse forecast a 25 percent increase in e-commerce sales volume of at least $ 3 billion. That figure was based on sales through MasterCard's payment network and estimates of other forms of payment, such as cash and checks.
These US forecasts UU They still got worse compared to Alibaba Group Holding Ltd's "Bachelor's Day" earlier this month, which ambaded $ 30.7 billion in sales.
Promotional efforts before the shopping frenzy in the US UU They provoked the ire of some who complained that they had awakened even more emails on Cyber Monday than in previous years.
"Yes, retailers, I am aware that it is Cyber Monday, even without the 150 emails," Keina (@RealMamaEagle) tweeted, a user from Delaware.
DEEP DISCOUNTS ON TOYS
With approximately 75 million buyers, the day was a test of online platforms and retailer delivery operations.
If it's not backed up with the right IT infrastructure, the heavy traffic could have caused hours of technical problems like those that occurred during the Amazon's Prime Day marketing event in July.
But starting at 2:30 p.m. ET on Monday, no big US chain UU He had technical difficulties, according to the interrupt tracker DownDetector.com. On Black Friday, some websites, including clothing retailer J.Crew and home improvement chain Lowe & # 39; s Cos Inc, had temporary cuts.
Consumers increasingly buy holiday gifts online, diluting the importance of Black Friday, when buyers had traditionally gone to brick and mortar stores to get the best deals.
"I think Cyber Monday is more convenient than Black Friday," said Jeissy Casilla, a 23-year-old retail worker in Puerto Rico, adding that it allowed her to browse multiple stores and deals and avoid long lines.
"I think Cyber Monday is better in terms of how much you can do while doing so little, basically a better opportunity to get the best deals," he said.
The toys were expected to have the biggest discounts, Adobe Analytics said, as retailers rush to fill the void left by the bankruptcy of America's top toy retailer, Toys & # 39; R & # 39; Us.
Target offered a 30 percent discount on select toys, while Lego's games with Kohl discount between 30 and 40 percent.
The social media conversations tracker Brandwatch said that of the 13,000 mentions in social networks of # Cybermonday, Apple Watch and the video game Red Dead Redemption 2, were two products that were much discussed.
The National Retail Federation forecast that retail sales on US vacations, including online, in November and December will increase between 4.3 and 4.8 percent compared to 2017, totaling $ 717.45 billion to $ 720.89 billion.
(Additional reporting by Uday Sampath Kumar and Soundarya J in Bengaluru, Melissa Fares in New York and Jeffrey Dastin in Los Angeles, edited by Bernard Orr and Meredith Mazzilli)