Shopping from home was the clear choice this year.
In an attempt to reduce physical foot traffic in stores and the need for in-store staff, many retailers prioritized Cyber Monday online sales over traditional Black Friday in-store sales. Advertisements for these sales have been widespread since October, and the results on Cyber Monday were significant, with customers setting a new spending record.
Adobe, a company that tracks online transaction data from 80 major online retailers in the US, reported a 15.1% increase in online purchases. In total, based on the websites monitored by Adobe, US shoppers collectively spent $10.8 billion on Cyber Monday alone. This year’s Cyber Monday now holds the title for the largest online shopping day in US history.
“As we move further into the holiday season, we anticipate continued record sales and a surge in curbside pickup as shoppers steer clear of crowds and potential shipping delays,” mentioned Taylor Schreiner, a director at Adobe Digital Insights.
Cyber Monday shoppers spent a record $10.8B online https://t.co/Aw0RGzD41Y
— CNET News (@CNETNews) December 1, 2020
Even though these sales figures are impressive, they fell short of Adobe’s initial forecasts. Adobe had originally predicted total Cyber Monday sales to reach $12.7 billion. Despite the surge in online shopping due to the pandemic, the economy remains challenging, and many Americans have less discretionary income than usual. Adobe has been gradually revising down its overall holiday spending estimates, now projecting $184 billion compared to the earlier estimate of $189 billion.
Interestingly, Adobe’s data revealed that while online shopping saw an uptick, a significant number of customers preferred curbside pickup for their orders over traditional delivery methods. Approximately 37% of purchases on Cyber Monday were made via mobile devices, with curbside pickup requests showing a 30% increase compared to the previous year.
