Cyber Monday in 2020

You just have to google cyber Monday deals to find all the great sales for the most popular items.  But with coronavirus still going strong, will more people be shopping this way than ever before?

Lauren Thomas a reporter for CNBC in New York, who covers retail, tweeted this morning “Cyber Monday is going to put to the test just about everything the retail industry has learned during the pandemic.  Companies have had months to prepare for a surge in e-commerce activity.  Deals have been steady.  But are they ready for today?”

According to stats from Adobe Analytics.

Shoppers spent $9.4 billion on Cyber Monday 2019, up from $7.9 billion in 2018 and $6.59 billion in 2017

The website blackfriday.com says, “We predict that Cyber Monday ecommerce sales will hit 10 billion this year. That's an increase over last year's $9.4 billion in spending -- but a much smaller jump than in past years. With COVID-19 casting a pall of uncertainty over the economy, there's a good chance consumer will have less to spend -- or will at least spend more judiciously this year.  However, retailers will likely be eager to meet consumers where they are at -- and bring tech, clothing, toys and other giftable items to price points that are more justifiable. Plus, the online nature of Cyber Monday will work to its advantage. With stores already announcing they'll be closed on Thanksgiving (which is usually the kickoff to Black Friday and the entire holiday shopping season), shoppers will be eager for a digital equivalent that lets them snap up their holiday must-haves without entering stores.”

We will be keeping an eye on how Cyber Monday goes.