Cyber Monday will probably be the biggest online shopping day of the year, however, it may fall short of the final tally in 2020.
The news comes from an Adobe ADBE,
Forecasts predicted between $10.2 billion and $11.3 billion after sales of $10.8 billion last year.
The forecast comes after Black Friday sales fell from last year, ending 2020 at $8.9 billion after sales of $9.0 billion. Sales on Thanksgiving Day were flat at $5.1 billion.
Black Friday e-commerce sales expected to reach $9 billion, even as the power of major shopping days falls
Adobe attributed the decline to strong sales at the start of the season. From November 1 to November 28, retailers increased purchases by $99.1 billion, up 13.6% year-on-year.
“On big shopping days like Thanksgiving and Black Friday, online sales are declining for the first time in history,” Taylor Schreiner, director of Adobe Digital Insights, said in a statement.
“With 21 days in November spending over $3 billion, what we know [is] Cyber Week is starting to look like Cyber Month.
Another new development is the fall in Cyber Monday promotions. The television is still the best deal, according to Adobe, with about 16% off, although prices were down 19% last year.
Supply chain problems persist, with Adobe reporting that there was a 16% increase in out-of-stock messages compared to the weekends of November 20 and November 21, but that shelves weren’t as empty as expected.
“Speaking with customers, I would say that expectations were very low and there was a feeling that the stores were in better shape than anticipated,” David Ritter, managing director of the consumer and retail group at Alvarez & Marsal, said in a statement. Alvarez & Marsal is a professional-services consulting firm.
“There were some categories that seemed to be in worse shape than others — electronics, pets, and apparel all had significant out-of-stock in select stores.”
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Even if things weren’t as bad over the weekend as Ritter suggested, customers should get the items on their list early.
“An interesting note – at several stores I visited employees indicated that all product was pushed to the floor in a ‘get it while we have it’ approach that would come later in the holiday season on issues that would arise.” may indicate,” Ritter said. ,
Sensormatic Solutions data found that visits to stores were still down 28.3% compared to 2019, although shoppers were turning back to brick-and-mortar in an effort to address problems that could arise from having orders delivered. She was
Brian Field, Senior Director of Global Retail Consulting, Sensormatic Solutions, said in a statement, “One driver of this increased traffic could be supply chain challenges and shipping delays, resulting in consumers buying to ensure their gifts are on time. Have to do it.” , Sensormatic Solutions is part of Johnson Controls JCI,
Which focuses on safety, sustainability, automation and more in buildings.
Fields expects customers to use a full range of services, including shop-online-pick-up-in-store, to receive gifts under the tree by December 25.
On November 27 and 28, use of buy-online-pickup-in-store services was down 10% from the previous year, “a sign that consumers are feeling more confident about their spending capabilities,” Adobe noted. did.
SPDR S&P Retail ETF XRT,
For the year so far about 52% is gone. Amplify Online Retail ETF IBUY,
down 10.7%. and the S&P 500 Index SPX,
An increase of 23.5% for the period.