Cyber Monday is poised to break online shopping records

Market researcher Forrester predicts that an all-time high of $78.7 billion will be spent online in the US during this year's holiday season.

Forrester

With Cyber Monday just one week away, US shoppers are gearing up for some of the year's biggest online deal days. And this year, online retailers are poised to see a lot of money thrown around.

According to market research company Forrester, a record $78.7 billion will be spent in U.S. online shopping this holiday season. This is 15 percent more than what was spent in 2012.

The researcher forecasts that 167 million shoppers will take to the Web to buy presents, gadgets, and goods. Each person is estimated to spend an average of $472 for the holiday season. Last year, the US saw $68.4 billion in sales and the year before it was $59.5 billion.

"Strong economic growth and low unemployment rates project a healthy playing field for online holiday sales and outweigh any lingering dampening effect of the government shutdown," Forrester analyst Sucharita Mulpuru wrote in the report. "This strength is even more evident online than it is offline, as consumers continue to shift their spending to multiple digital devices from stores."

Forrester's estimated $78.7 billion in sales includes all major online shopping days, like Thanksgiving, Black Friday, Cyber Monday, Christmas, and day after Christmas; it also includes sales customers make on their smartphones and tablets. According to Forrester, 57 million people in the U.S. already make purchases on their mobile phones.

As retailers jockey to win over shoppers, they will be offering all sorts of discounts. According to Forrester, not only will online stores offer free shipping, but they'll also give discounts to repeat shoppers and promote one-day sales.

Forrester isn't the only research company to predict even higher spending this year. Adobe Digital Index also recently released its prophecies for this year's online shopping season. Not only does Adobe predict this year will see the highest-ever online spending during the U.S. holiday season, but Thanksgiving, Black Friday, and Cyber Monday will all be billion-dollar spending days -- with Cyber Monday taking the cake at $2.27 billion in sales.

 

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