(CNBC) About $10.7 billion worth of online transactions were posted on Monday, representing a 1.4% drop from the prior year.
The drop in online sales had happened for the first time on a Cyber Monday since 2012 when Adobe Analytics started reporting it.
Analysts attribute the drop in online sales on Cyber Monday to consumers spreading spending over several days rather than waiting for discounts on Cyber Monday or Black Friday. Fears of supply shocks also encouraged consumers to purchase early.
US consumers spent $109.8 billion online through Cyber Monday this month, an increase of 11.9% from the prior year. In 22 days of the month, consumers spent a record $3 billion.
Adobe Analytics expects a record e-commerce activity during the holiday season. The analytics firm expects digital sales to reach $207 billion between November 1 and December 31, a record 10% increase.
The National Retail Federation forecasts retail sales in November and December to rise by a record 8.5% and 10.5%, respectively, from the prior year.
Adobe Analytics tracks at least 1 trillion customer visits to retailers’ websites.
