Cyber Monday turned out to set a record with sales expected to be 79 billion in the US alone Reuters citing data from Adobe Analytics which measures transactions from 80 of the leading 100 retailers in the US reported sales picked up Monday night as shoppers on the West Coast scoured the internet for deals after work In the late evening on Monday November 26 Adobe announced Cyber Monday sales would be 100 million more than it forecast earlier in the day reported Reuters Many shoppers have waited on certain purchases with three hours tonight expected to bring in as much revenue as an average full day Taylor Schreiner director of Adobe Digital Insights told Reuters As of 7 pm ET Monday sales for retailers online were up 20 percent from last years Cyber Monday with Adobe pointing to a surge in orders being placed via smartphones Meanwhile Reuters pointed to Mastercard which forecasted via its Mastercard SpendingPulse for sales to be up 25 percent to at least 3 billion Its forecast is based on sales through Mastercard payment networks and estimates from cash and check payments Still the brisk sales are coming at the expense of profits for brick and mortar players warned Bob Phibbs chief executive of Retail Doctor the consultancy firm in the Reuters report He said online discounts and free shipping are cutting into retailers profits in a significant way Retailers are just spending money in the hopes that they dont lose too much more he said The strong showing during Cyber Monday underscores the shift among consumers to do most if not all of their holiday shopping online Adobe found the average shopping basket during Cyber Monday was 138 nationwide which up 6 percent from a year ago Toys were one area that Adobe Analytics said was expected to have the largest discounts as retailers aimed to capitalize on the bankruptcy of Toys R Us Reuters noted Target had 30 percent off select toys deals while Kohls had Lego sets that were 30 percent to 40 percent off LATEST INSIGHTS Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation thats reshaping the payments and commerce ecosystem Check out the latest PYMNTS study The AI Gap Perception Versus Reality In Payments And Banking Services