ALEXANDRIA—Instead of taking to brick-and-mortar outlets in the days after Thanksgiving, consumers shopped online, ringing up $10.8 billion in sales for the holiday weekend, smashing previous Cyber Monday, reports Pyments.com. The figure fell short of Adobe’s forecast of $12.7 billion.
As NACS Daily reported earlier this week, Black Friday 2020 suffered a 52% drop in in-person store sales when compared to 2019, and “safe” shopping is expected to continue for the gift-buying season.
"Throughout the remainder of the holiday season, we expect to see record sales continue and curbside pickup gain even more momentum as shoppers avoid crowds and potential shipping delays," said Taylor Schreiner, a director at Adobe Digital Insights.
Curbside pickup is one of the focus areas for c-stores that NACS Research examined in its recently released landmark “NACS Last Mile Fulfillment in Convenience Retail” study, which outlines the opportunity for convenience retailers to grow sales and expand customer reach. Download it free here.
Sales on Cyber Monday increased 15.1% year over year, based on analysis from 80 of the leading 100 e-commerce merchants in the U.S., according to Adobe, which has adjusted its online sales forecast slightly downward to $184 billion for the entire holiday season, a 30% increase over 2019.
Cyber Monday orders for curbside pickup were up 30% from 2019, and 37% of digital sales were made on mobile devices, according to Adobe’s data. From 7-11 p.m. Pacific time, the final hours of Cyber Monday sales, consumers spent $2.7 billion, which was about 25% of the day's revenue.
Thanksgiving was another big day for online purchases, with e-commerce spending totaling $5.1 billion, up almost 22% year over year. Black Friday online sales also broke records, surging about 22% to $9 billion. Cyber Monday was a smaller part of overall sales for big-box retailers like Walmart and Target, which rolled out deals in mid-October to compete with Amazon Prime Day.
COVID-19 pushed merchants to make Cyber Monday sale plans in advance, ensuring that shelves and warehouses were well stocked and delivery drivers were ready to roll. Record-breaking online sales since the start of the pandemic have made it challenging for merchants to predict what shoppers would be looking to buy.
Amazon sellers enjoyed record-breaking $4.8 billion in worldwide sales Black Friday through Cyber Monday, a 60% increase over the same period last year.
NACS has compiled resources to help the convenience retail community navigate the COVID-19 crisis. For news updates and guidance, visit our coronavirus resources page.