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Cyber Monday is underway and on track to make history

  • Adobe Insights has forecast total online spending on Monday to surpass $6.5 billion.
  • This would make Cyber Monday the largest digital shopping day in U.S. history, with sales climbing more than 16 percent from a year ago.
  • As of 10 a.m. ET, $840 million had already been spent online, Adobe found.

Cyber Monday sales are underway and well on their way to break records, according to Adobe Insights.

As of 10 a.m. ET, $840 million had already been spent online, an increase of almost 17 percent when compared with the same time last year, Adobe found.

Web traffic was up 12 percent by midmorning, as toys boasted some of the biggest discounts. Apparel merchandise also typically sees some of the biggest markdowns heading into the start of December.

"As consumers make their way back to work, they are poised to be hitting the buy button all day, as most big discounts will end by midnight," Tamara Gaffney, an engagement group director at Adobe, said in a statement.

"A lot more of this will be happening on smartphones as well, where smoother buying experiences through auto-fill capabilities are helping drive the growth we see in mobile," she added about the day.

Adobe has forecast total online spending on Monday to surpass $6.5 billion, potentially marking the largest digital shopping day in U.S. history and representing an increase of more than 16 percent from a year ago.

The firm measures 80 percent of online transactions from 100 major U.S. retailers. Adobe will issue another update on Cyber Monday sales at 8 p.m. ET.

A record $5.03 billion was spent online during Black Friday, an increase of 17 percent when compared with last year, Adobe found. Top-selling items that day included the Nintendo Switch, Hatchimals, L.O.L. Surprise and ride-on cars for kids.

Saturday and Sunday delivered a combined $5.12 billion in online sales, up 10 percent from a year ago, the firm added.

Driving clicks and sales overall this holiday season have been smartphones and other mobile devices, as purchases made from desktop computers haven't been as strong.

"Hesitancy around shopping on smaller screens has begun to dissipate," Taylor Schreiner, director of Adobe's Digital Insights division, said in a statement.

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