Online shopping sales reach record-breaking totals
Cyber Monday 2020 was the largest online sales day in history, with US spending reaching $10.8 billion, an increase of 15.1 percent over last year, according to Adobe Analytics, as reported by multiple sources. From 7 pm to 11 pm Pacific time, consumers spent $2.7 billion, 25 percent of the day’s revenue, Adobe said. Adobe’s online sales forecast for the entire 2020 holiday season is $184 billion, a 30 percent increase from 2019.
More than 80% of consumers plan to do their holiday shopping online in 2020, according to the annual holiday consumer survey conducted by CommerceHub. Many consumers are at their computers and online more than usual, and they’re also shopping on their smartphones. According to Adobe, 37 percent of online sales on Cyber Monday were made on mobile devices. Also trending on Cyber Monday was curbside pickup of items bought online that day. The number of orders picked up curbside on Cyber Monday was up 30 percent from a year ago.
Thanksgiving Day and Black Friday, traditionally days for visiting stores and malls, also saw record-breaking online shopping. Forty-four percent more consumers shopped only online this year compared to last year, according to the National Retail Federation (NRF). Adobe reported that online spending on both days increased nearly 22 percent over last year, to $5.1 billion on Thanksgiving and $9 billion on Black Friday.
In addition, many retailers offered online deals ahead of Thanksgiving weekend/Cyber Monday, some as early as October, and 52 percent of holiday shoppers said they took advantage of early holiday sales and promotions, according to the NRF. Many retailers are also extending their offerings through the Cyber Monday week and beyond.
Adobe expects online shopping and curbside pickup to continue to increase this holiday season. And, BizTech magazine wonders if 2020’s record-breaking Cyber Monday “may at last mark the year when retail finally flips from a mostly in-person experience with an online component to a mostly online experience with a physical element.”
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