- Cyber Monday expected to rake in a record-breaking $12.7 billion in sales
- E-commerce has surged during the 2020 holiday shopping season as consumers remain wary of in-person shopping during the COVID-19 pandemic
- Deals offered by retailers are more modest following exhortations for shoppers to buy early
Cyber Monday is expected to hit record levels this year, with a forecasted $12.7 billion in online sales.
Retailers have traditionally promoted the Monday after Thanksgiving as an occasion for e-commerce deals and discounts. However, the COVID-19 pandemic has driven higher online sales as people opt not to shop in person at brick-and-mortar locations – especially as the number of COVID-19 cases have hit record levels. Black Friday also had a greater online presence this year, with “doorbuster” sales moved online; the occasion saw a 22 percent year-over-year increase in e-commerce sales to $9 billion.
To meet the surge in online sales, retailers have been investing in improvements such as better delivery capacity and parking areas for digital orders. The shift has also put greater emphasis on digital reliability, as slow websites or other problems could deter customers.
Some analysts have said this year’s Cyber Monday deals are unlikely to have discounts as deep as previous years due to elevated Black Friday e-commerce. Retailers may also be worried about angering customers if they offer major discounts after urging people to do their shopping early to avoid shipping delays.
