Not only was Cyber Monday the largest Cyber Monday in history, it actually was the largest online shopping day of all time in the United States, with a whopping $7.9 billion in sales. And that’s just the start of the holiday spending: In the U.S. alone, shoppers are expected to spend $151 billion online this holiday season, up 14 percent from $133 billion in 2017.
With cable the leading broadband provider, with about two-thirds of all high-speed internet subscribers, it’s safe to say many of those sales will be powered by cable. In addition, cable has over 500,000 public Wi-Fi hotspots dotting the country. That makes it easy to shop from anywhere.
“Cyber Monday” dates back to 2005 when online shopping was relatively new. Less than a third of Americans reported doing holiday shopping online. Most had to wait until Monday in order to use the high-speed internet connection at their job. That first Cyber Monday logged $424 million in online sales. As high-speed internet spread, retailers jumped on board. Cyber Monday has set new records every year.
This year, 25 percent of more than 165 million individuals shopped online from Thanksgiving Day through Cyber Monday. That outnumbers the 21 percent of shoppers who only went to a brick-and-mortar store. A majority (54 percent) shopped both ways, according to the National Retail Federation.
While Cyber Monday is a traditional day to benchmark online spending, the holiday shopping season in the U.S. has expanded to the month of November. As a result, online spending in November before Cyber Monday had already hit $58.5 billion, up nearly 20 percent from 2017. That’s more than $1 billion every day!
As shoppers spend more of their holiday gift budget online, it’s increasingly important that they make sure they are shopping safely. Check out this Online Shopping Tip Sheet from the National Cyber Security Alliance that includes information on how to protect highly personal data like credit card numbers and friends and family’s addresses.