New Record: How Much Americans Spent on Black Friday and Cyber Monday
Cyber Monday in 2020 became the largest online shopping day in US history: on this day, Americans spent $ 10,8 billion. Forbes... This is 15,1% more compared to last year, when the record was also set.
Adobe's purchase data recorded one trillion visits to retail sites in the US and reported total spending for the holidays from season start through Cyber Monday exceeded the $ 100 billion threshold. This milestone is usually not reached until mid-December.
Taylor Schreiner, director of Adobe Digital Insights, said: "Cyber Monday continues to dominate the holiday shopping season, becoming the largest online shopping day in US history, despite early discounts from retailers."
Schreiner expects record sales to continue throughout the remainder of the holiday season, with pickup even more active as shoppers avoid crowds and potential delivery delays.
On the subject: 18 common risks of online shopping and how to protect yourself
RetailNext, a pioneer in store analytics, reported a 42,3% drop in brick-and-mortar traffic over the weekend (Friday through Sunday, November 27 through 29, respectively). Conversion rates (the percentage of shoppers making a purchase) and the average transaction cost (how much is spent per transaction) increased by 3,8% and 4,9%, respectively. Consequently, brick-and-mortar sales were down just 23,9% as they were boosted by increased conversions and average transaction costs.
Attendance outside shopping malls was slightly better than in malls, down 41% YoY, down 44% YoY. At the same time, physical shopping centers received only 3% fewer buyers than last year. This means that people have not abandoned them in favor of the Internet.
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Black Friday weekend and Cyber Monday by the numbers:
- $ 10,8 billion: Online sales on Cyber Monday (up 15,1% from last year).
- $ 106,5 billion: Online spending this season (27,7% more than last year).
- 25%: Share of total Cyber Monday sales during Golden Retail Hours from 19:00 pm to 23:00 pm Pacific Standard Time.
- 37%: Share of total Cyber Monday mobile sales.
- 501%: Cyber Monday sales of small retailers compared with the daily average for October, outperforming larger retailers, which posted 486% growth in the same comparison.
- 30%: pickup growth on Cyber Monday compared to last year.
- 23,9%: Decrease in sales in retail trade of building materials.
- 41,3%: Overall drop in traffic from Friday to Sunday (weekends after Thanksgiving) shopping center traffic decreased by 44% over the same period.
- 23%: General decline in traffic to offline stores on Cyber Monday.
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