Cyber Monday Sales Predicted to be Biggest in History
The big story in American business this year has undoubtedly been the story of the rise of the Amazon e-commerce empire and its penetration into practically every sector where goods are bought and sold, with Walmart following them close behind.
It’s no surprise, therefore, that as American retailers continue to struggle, this year’s “Cyber Monday” sales are expected to smash all records:
This year, Americans are expected to spend $6.6 billion online the Monday following Thanksgiving vs. $5 billion online on Black Friday, according to Adobe Analytics. That’s despite ubiquitous smartphones and broadband, and plenty of online deals starting Thursday.
Over time, Cyber Monday has become a self-fulfilling prophesy. Consumers are conditioned to expect a rash of cyber sales when they get back to work on Monday and companies are happy to oblige.
“People love sales and can’t get enough of them,” said Sucharita Mulpuru, a senior retail analyst with Forrester Research. “Very few people are tired of sales.”
Adobe predicts that U.S. online holiday sales will reach $107.4 billion this year, an increase of 13.8%, with Cyber Monday leading the way.
Holiday sales overall are predicted to be as high as $682 billion, according to the National Retail Federation, up 4% from last year.
Some 7% of people plan to do the majority of their holiday shopping on Cyber Monday, compared with 10% of Black Friday and 40% after Cyber Monday, according to TrendSource data. The rest are year-round shoppers who are done before most people have even started.
For those who are planning to buy video game and tech-related goodies for Christmas this year, ArcadeHero’s weekly post will be going up a little early today at 11:00 a.m. EST for anyone looking for convenient links to deals and discounts.