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JUST THE NUMBERS: BLACK FRIDAY AND CYBER MONDAY 2020

December 2, 2020
December 2, 2020
Cardmapr via Unsplash

Like all things this year, the holiday season will be like no other, with shopping happening against the backdrop of the pandemic and economic uncertainty. That being said, the National Retail Federation (NRF) expects 2020 holiday sales to rise, as Americans spend less on travel and dining out and put that money towards gifts instead. It predicted that spending will increase by between 3.6% and 5.2% year over year, amounting to between $755.3 billion and $766.7 billion.

“From the data we’re tracking, instead of just a Big Bang on Black Friday weekend, we’re seeing what’s becoming more of a Cyber Month,” Andy Mantis, Head of Data Insights for 1010data, told Retail Dive. “It kicked off with Prime Day in October, and is continuing.”

Thanksgiving:

  • Thanksgiving hit a new record for digital sales, with 21.5% year-over-year growth to $5.1 billion.
  • Mobile accounted for 46.5% of sales on Thanksgiving, according to Adobe.
  • Adobe reported retailers that offered curbside services for Thanksgiving sales saw a 31% higher conversion rate of traffic to their sites.

Black Friday:

  • According to Adobe Analytics data, Black Friday hit a new record, with consumers spending $9 billion online, an increase of 21.6% from last year’s $7.4 billion.
  • Adobe estimates that consumers in the US spent $6.3 million per minute shopping online during the holiday.
  • Mobile shopping constituted 40% of sales on Black Friday, according to Adobe. Total spending via smartphone increased 25.3% to $3.6 billion.
  • Adobe called it the second-largest online spending day in US history, coming in behind Cyber Monday 2019.
  • In-store and curbside pickup increased 52% over last year, according to Adobe.
  • On Black Friday, retailers that offered curbside increased digital sales by 19% over those that didn’t, according to Salesforce.
  • Salesforce put the online spending figure for the US at $12.8 billion, or a growth of 23%, and estimated that consumers worldwide spent an “astounding” 116.6 million hours shopping on Black Friday.

Cyber Monday:

  • According to Adobe Analytics, US shoppers spent $10.8 billion on Monday, an increase of 15% over Cyber Monday a year ago.
  • Though a record, Monday’s figure was short of the amount Adobe predicted, $12.7 billion.

Trends:

  • According to Salesforce, store chains that offered curbside, drive-through, and in-store pickup options in the US increased digital sales at a 26% higher rate versus retailers that didn’t provide it during the first days of Cyber Week.
  • Online sales for Thanksgiving and Black Friday rose 403% for large retailers as a group against their October average, compared to a 349% increase for smaller retailers, according to Adobe.
  • Average spending on gifts, decoration, and food was $311.75, down about $50 from last year, according to NRF.
  • The National Retail Federation reported about 186.4 million shoppers bought holiday gifts, food, or decorations from Thanksgiving to Cyber Monday. That’s less than the 189.6 million shoppers who bought items during that period last year but higher than the 165.8 million who shopped in 2018.
  • 57% of holiday shoppers indicated to the NRF they plan to shop more online because of the pandemic. Those new habits cut across consumers of all ages and backgrounds.
  • The biggest spenders during the five-day period were between the ages of 35 and 44, according to an analysis by NRF and Prosper Insights & Analytics. This group spent about $380, almost $70 more than the average shopper.
  • According to Amazon, independent vendors surpassed $4.8 billion in global sales from Black Friday through Cyber Monday—more than 60% more than last year.
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