Cyber Monday predicted to be biggest day of online shopping in US ever
May 7, 2020
Just a few hours into Cyber Monday, the day of online deals is already set to become the biggest online shopping day in US history.
Since its inception in 2005, Cyber Monday has become increasingly popular as consumers opt out of crowded stores in favour of shopping from home.
Last year’s Cyber Monday set the previous record for the biggest day of online shopping – but experts from Adobe Analytics predict this year will see a nearly 18 per cent increase in sales and $7.7bn (£5.9bn) generated.
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Comparatively, Black Friday 2018, the holiday season’s biggest shopping day rival, only saw $6.2bn (£4.8bn) in online sales.
While experts expect consumers to shop throughout the day, they predict the most prolific hours will be between 7pm and 10pm Pacific Time – with purchases during those hours expected to result in more revenue than an average full day in 2018.
And phones will also play a large part in driving traffic to retailers, with Adobe predicting 25 per cent of online revenue will be made from a smartphone.
However, a majority of customers will be looking for sale items they can purchase online – and then pick-up in store.
“As online shopping surges with another record-breaking holiday season, the retailers with compelling websites coupled with physical store locations will have the advantage,” said John Copeland, head of marketing and consumer insights at Adobe. “Many shoppers want to interact with retailers’ products and the brand in-store, and the ability to pick up online orders in-store within a matter of hours can’t be underestimated.”
In addition to the convenience associated with Cyber Monday, consumers can expect to get better deals than on Black Friday on certain items.
Although Black Friday is typically still the best time to purchase electronics such as computers, tablets and televisions, Cyber Monday and the Sunday before are the best days to make purchases on apparel, appliances, jewellery, and toys.
But before you click purchase, make sure that you are actually getting a deal – as online sellers can use the day to scam shoppers looking for a bargain.
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