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Cyber Monday on track to set U.S. online shopping record

Cyber Monday on track to set U.S. online shopping record
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The Monday after Thanksgiving weekend, dubbed "Cyber Monday" for its onslaught of online discounts, is on track to set U.S. online shopping records this year.

Cyber Monday retailers are poised to rack up $7.8 billion in U.S. online sales in 2018, 18.8 percent more than users spent in 2017, according to Adobe Analytics.

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People were predicted to spend about $1.6 billion between 10 p.m. and 1 a.m. EST, about $200 million more than a typical day for retailers, USA Today noted.

Still, the record-breaking sales are not far behind Black Friday digital sales, which spiked 23.6 percent to hit $6.22 billion this year, according to Adobe.

Customers are increasingly seeking out online sales rather than heading to the crowded brick-and-mortar stores that have traditionally been the mainstay of the shopping experience the day after Thanksgiving.

Taylor Schreiner, director of Adobe Digital Insights, said in a statement that Cyber Monday still has "great staying power" despite the increasing interest in the other days of Thanksgiving weekend. 

“Despite some of the best deals coming earlier in the holiday season, the Cyber Monday brand has great staying power," she said. "Many shoppers have waited on certain purchases, with three hours tonight expected to bring in as much revenue as an average full day.''

Thanksgiving Day experienced the biggest single-day surge in digital sales history, increasing by 28 percent since last year to hit $3.7 billion, according to USA Today.  

Target and Amazon on Monday offered competitive deals for consumers, including free delivery with no minimum order requirement, Reuters reported

An estimated 75 million shoppers will take part in this year's Black Friday, according to the news service. As they flood online stores after work and throughout the evening, they will test the infrastructure and durability online retailers' websites and platforms.

No major U.S. retailers had faced widespread technical difficulties by the afternoon, according to DownDetector.com. 

More shoppers than ever are also using their phones to make orders, Salesforce's vice president of industry strategy and insights Rob Garf told USA Today. Mobile sales are predicted to total more than $2 billion over the cyber holiday.