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NEW YORK (Reuters) – Cyber Monday is expected to generate up to $ 12.7 billion in online sales, according to industry estimates, beating Black Friday digital numbers as US retailers enter final round from a long holiday sales season.
Retailers have offered shoppers nearly two months of deals since Amazon.com hosted its Prime Day in October, as they sought to be competitive and recoup lost sales during malls and other store closings. of this year due to the coronavirus.
Latest estimates from Adobe Analytics showed this year’s conclusion of Thanksgiving weekend promotions would still be the biggest online selling day in history, with spend between 10.8 and 12.7 billions of dollars.
Even with discounts starting much earlier and more widely this season, Adobe’s survey showed that 56% of consumers still believe retailers are saving the best Cyber Monday discounts.
“While I look forward to another year of cut-price chicken – where consumers are clamoring for deeper and deeper cuts throughout the season … Cyber Monday should (again) provide a great opportunity to do a big step in holiday shopping, ”said Rob Garf, vice president of strategy and ideas at Salesforce.
Traditionally, Cyber Monday starts with people, fresh after a long weekend, looking for discounts online at work and driving another big day of promotions.
However, the popularity of event shopping days has waned with the emergence of online shopping and inexpensive deals throughout the year from retailers such as Amazon and Walmart, the health crisis of this year. year also playing with purchasing habits.
The Black Friday tent pole shopping event, which generated record online sales of around $ 9 billion, according to Adobe, saw shoppers show up in smaller numbers at stores as they used the first offers and avoided getting into large crowds.
This year’s Cyber Monday saw not only online sellers like Amazon offering big discounts for its own brands, including the Fire TV Stick, Echo devices, and other electronics like PlayStations and roombas. , but also physical stores such as Lululemon Athletica and Best Buy provide online deals.
“I go online a bit, look around and do comparisons, but Amazon pretty much beats everything,” Bill Hon said. Hon, 49, a cook living in Crawfordsville, Indiana, started vacation shopping at Amazon’s Prime Day event.
Apple also hosted a four-day event on its website ending Monday, offering gift cards of up to $ 150 with the purchase of select products.
“Consumers will likely enjoy the best items at discounted prices today… before prices start to rise again throughout the season,” said Taylor Schreiner, director of Adobe Digital Insights.
Are you planning to shop or have you ever purchased online during Cyber Monday?
(Reporting by Aishwarya Venugopal in Bengaluru and Melissa Fares in New York; editing by Patrick Graham, Shinjini Ganguli and Sriraj Kalluvila)
© Copyright Thomson Reuters 2020
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