US ‘Cyber Monday’ Sales Up 16%

US shoppers spent a record amount of money on Cyber Monday. They did much of their shopping on mobile devices and tablets.

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Cyber Monday sales in the US grew 16% to $2.29 billion, with significantly more mobile device purchases.

According to the survey of market tracker Adobe Digital Index, mobile sales leaped 80% from last year. The stronger than expected sales came after a disappointing Black Friday weekend.

This growth in online sales comes as earnings at physical stores decreased, with retailers posting their first drop in Black Friday sales in seven years.

Holiday purchases online

“Cyber Monday” stems from the early days of the Internet, when consumers would use their web connections at work to make online holiday purchases.

The term was used in 2005 by the online retail association Shop.org to mark the first Monday back at work after the Thanksgiving holiday. Since then, online sales have continued to grow.

That means online sales have started to cannibalize sales at brick and mortar stores.