More Than 122 Million Consumers Plan to Shop Online on Cyber Monday

More than 122 million Americans plan to shop online today, Cyber Monday, up from the 121 million who planned to participate last year, according to the National Retail Federation’s Cyber Monday Expectations Survey, conducted by Prosper Insights & Analytics over the weekend. More than 28 million people, or 23 percent of Cyber Monday shoppers, plan to shop for Cyber Monday deals from their mobile device this year, about even with last year’s 29.6 million. On the other hand, 98.6 million people will use their computers at home to shop on Monday, while 11.2 million will shop from their computers at work. In addition, early data from Adobe indicates Cyber Monday has already brought in $540 million between midnight and 10 a.m. EST. On the heels of a strong holiday shopping weekend, Adobe also affirms its forecast that Cyber Monday will reach $3.36 billion in online sales, a 9.4 percent year-over-year growth. Mobile shopping in early morning hours accounted for $205 million.

Total Retail’s Take: The fact that so many millions of Americans are planning to shop on Cyber Monday — and that they are spending so much — comes as a surprise since Cyber Monday is losing some of its impact as a one-day event. The Thanksgiving-Black Friday weekend, for example, saw almost 110 million people shop online, well above the 99 million who hit stores. What’s more, major retailers, notably Wal-Mart, started their Cyber Monday deals earlier than in preceding years.