Employees meeting on a sale projectionThis year’s Cyber Monday may have set a new record for the biggest online shopping day in the U.S., as sales reached almost $6.6 billion.

Adobe Insights’ forecast amount represents a year-over-year increase of 16.8%. More Americans who shopped online used mobile devices for their holiday purchases. Adobe Insights based its estimate on 80% of e-commerce sales from 100 major U.S. retailers.

Holiday Shopping

For online retailers, the record amount of sales poses some issues on monitoring invoices. As more shoppers prefer to buy items online, ScaleFactor, Inc. agrees that it makes sense for companies to use cloud bookkeeping services to manage collectibles and expenses.

While Cyber Monday generated an unprecedented amount of spending, Black Friday remained a popular day for online transactions. Americans spent a record amount of $5.03 billion on that day, up 17% year over year. Adobe also said that online sales on Small Business Saturday and Sunday reached a combined $5.12 billion, up 10% in the same period last year. Toys, handheld devices, and apparel are the best-sellers during these days after Thanksgiving.

Top-Selling Products

As retailers compete to lure more customers on Cyber Monday, many retailers have made it easier for shoppers to buy items using mobile apps and e-wallet services. This led sales conducted on smartphones to reach $2 billion out of the total figure.

According to Adobe Analytics data, 75% of millennial shoppers are more inclined to use mobile devices instead of desktop computers for online shopping. This means e-commerce companies should improve their platform’s compatibility with iPhones, Android phones, or other mobile devices. Mickey Mericle, vice president of Adobe’s Marketing and Insights division, believes that more online retailers will optimize their mobile capabilities in the future.

READ  Are You Ready to Start Your Own Business?

The record amount of spending on Cyber Monday indicates that retailers should improve their digital services, as more people use smartphones to shop online.