You are currently viewing our desktop site, do you want to visit our Mobile web app instead?
 Registered users can save articles to their personal articles list. Login here or sign up here

US retailers see biggest-ever Cyber Monday after record online Black Friday

Social media platforms are likely to boost digital sales further.

US retailers kicked off Cyber Monday by launching a slew of deals earlier than usual over the weekend, seeking to sustain the momentum of a record $11.6 billion in online sales on Thanksgiving and Black Friday.

Shoppers already had nearly a month of sales promotions as retailers look to draw out a holiday season that on paper is six days shorter this year due to a late Thanksgiving.

But estimates from Adobe Analytics on Sunday predicted the opening weekend of US retailers’ crucial holiday season would set a new record of almost $30 billion in sales, with Cyber Monday – now traditionally the US economy’s biggest online shopping day – alone expected to reach $9.4 billion.

Amazon.com and other traditional retailers such as Target Corp and Walmart have beefed up delivery services to fulfill online orders faster as more customers shop on their mobile phones and tablets at home.

“We expect Cyber Monday to be the second most popular day of the five-day shopping period, mostly driven by mobile traffic, Cowen analyst Oliver Chen said.

Digital sales this year are also likely to get a big boost from orders through social media platforms like YouTube, WeChat, Instagram and Facebook.

“Brands and retailers will feel the effects of a Gen Z with even greater purchasing power,” said Rob Graf, vice president of strategy and insights at business software provider Salesforce.

“They are also pushing the boundaries of where actual purchases will happen.”

This year, Target made free shipping available to all its customers throughout the shopping season, while Walmart offered shoppers the option of free two-day shipping or in-store pickup on the same day.

A clear winner so far of the early deals and ramped up preparation for the holidays, were retailers with greater online presence or those who had services such as “buy online and pick up at store”.

The National Retail Federation estimates nearly 69 million Americans will scour the web for deals on everything from Apple Airpods Pro and homeware to toys, and Adobe estimates sales of $9.4 billion would be a 19% increase on the same day a year ago.

Target on Black Friday announced that it would kick off a week of online discounts a day before, while Kohl’s Corp started online deals on Saturday, with deeper discounts on Monday.

However, the deluge of online orders are pressuring websites, some of which have experienced outages and other technical glitches.

Costco’s website went down for a brief period early on Thanksgiving Day, while Danish jewelry maker Pandora had Black Friday payment issues at US and Canadian concept stores. “#CyberMonday2019 The day of the year 85% of the US population pretends to actually be working,” tweeted Erika Mayor, a user in Miami.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   0

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
Insider GOLD
ONLY R63pm

Moneyweb's premium subscription is a membership service which will give you access to a number of tools to take charge of your investments.
Choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be cancelled at any time.

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: