Cyber Monday sales could break records

Cyber Monday sales could break records
Cyber Monday sales could break records(source: WMC Action News 5)
Updated: Dec. 1, 2019 at 3:27 PM CST
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MEMPHIS, Tenn. (WMC) - The Thanksgiving holiday shopping season is off to a strong start and continues with Cyber Monday.

Tens of millions of shoppers are expected to browse for deals online and analysts say sales on Cyber Monday could break a couple of records.

The National Retail Federation estimates more than 68 million people will shop online for Cyber Monday.

Many have already started.

Adobe Analytics says online sales on Black Friday reached $7.4 billion, the second highest online sales day ever.

It ranked just behind last year's Cyber Monday.

Analysts predict this year's Cyber Monday will set another online record with sales of $9.4 billion.

Memphis-based FedEx expects to set a record of its own on Cyber Monday, moving 33 million packages through its network that day alone.

"E-commerce continues to grow, and FedEx is ready to deliver this holiday and beyond," said Brie Carere, executive vice president, chief marketing and communications officer, FedEx Corp. "We recognized early on that e-commerce would transform the way our customers shop and ship, and we have invested in a world-class network that flexes to meet volume demands throughout the year."

FedEx also predicts it will more than double its average daily package volume on the two Mondays that follow Cyber Monday.

Analysts say Disney's Frozen 2 toys, video games and electronics are the most popular items people are after.

Overall, the National Retail Federation estimates holiday sales in November and December will be about four percent higher than last year, totaling between $727 billion and $730 billion.

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