NEW YORK — Black Friday sales hit new highs, spurred in large part by online sales. However, those online deals may be cutting into the online sales barrage known as Cyber Monday.
The Monday after Thanksgiving, Cyber Monday, is still the biggest single online shopping day of the year. Shoppers had spent $540 million in online sales through 7 a.m. on Monday. Total sales are expected to reach $3.36 billion, up 9.4 percent from a year ago, according to Adobe Digital Insights, which tracks online retail transactions.
In today’s retail world, more and more online retailers are stretching Cyber Monday deals through the week as well as making them available in stores.
Among the deals that retailers rolled out on Monday:
- Amazon offered $40 off the normally $180 Echo smart speaker and 60 percent off a KitchenAid stand mixer, at $220 down from $550.
- Walmart offered $100 off a regularly priced $300 Power Wheels Disney Frozen Jeep Wrangler motorized toy car.
- Target offered an extra 15 percent on Sunday and Monday — both online and in stores. It offered a deal on a Samsung 43 inch flat panel TV for $200 off its regular price of $600, plus a $50 giftcard with purchase.
The fact that more online deals are available earlier could be easily seen in retailing apps. Target’s mobile app started offering holiday deals including 50 percent off one toy per day on Nov. 1. Amazon has been running a promotion called 35 days of Black Friday deals, starting Nov. 1. Walmart got a jump on its competitors by kicking off its “Cyber Monday” deals at 9:01 p.m. Thursday.
“It’s really this weeklong flow of deals,” Shawn DuBravac, chief economist at the Consumer Technology Association told the Associated Press.
The National Retail Federation trade group is forecasting strong holiday sales. It believes that holiday sales for the November and December will rise 3.6 percent to $655.8 billion, better than the 3 percent growth seen in the year-ago period.