If Online Sales Trends Hold, Cyber ​​Monday Sales Could Miss Target

Online holiday shopping isn’t what it used to be.

Cyber ​​Monday is still set to be the biggest online shopping day of the year, but it might be the first time it hasn’t broken a record, if it follows the trends of Thanksgiving and Black Friday.

For the first time, online spending for Thanksgiving and Black Friday did not exceed the amount spent on the same days the year before, according to Adobe Analytics, a division of San Jose, California-based software company Adobe Inc. California.

“Black Friday saw a reversal of the growth trend of years past. Buyers are strategic in their gift purchases, shop much earlier in the season, and are flexible about when to shop to ensure that ‘they’re getting the best deals,’ Vivek Pandya, senior analyst at Adobe Digital Insights, said in a statement.

Missed screenings

Adobe predicted that Black Friday online spending would hit a record $ 9.5 billion, up 5% from the $ 9 billion spent that day last year.

But online spending on Black Friday last week fell to $ 8.9 billion, Adobe said.

Thanksgiving online spending was flat from last year’s holidays at $ 5.1 billion.

After seeing the performance of online sales over Thanksgiving and Black Friday, Adobe adjusted its projections for Cyber ​​Monday.

Adobe originally predicted Cyber ​​Monday online sales would hit a record $ 11.3 billion, but recently adjusted the forecast to a range of $ 10.2 billion to $ 11.3 billion.

Cyber ​​Monday 2020 online sales hit a record $ 10.8 billion.

Sales data from the last few days shows that the five-day period from Thanksgiving to Cyber ​​Monday is losing its significance during the holiday season, as consumers started shopping earlier, some of which were due to expected supply chain issues.

Always in anticipation of a record season

Adobe still predicts that total online sales for the entire holiday shopping season – November and December – will hit a new record high of $ 207 billion, a 10% increase from the same two months last year.

Baldwin resident David Lenis, 18, plans to check out bargains online Monday after quitting his job as a restaurant manager, he said on Saturday.

“Because it’s cheaper, more convenient” than shopping in a store, he says.

Farmingdale resident Maria Henry, 25, will not be looking for offers on the apps on Monday.

“I actually don’t like shopping online,” said Henry, who said she prefers trying on clothes and inspecting product quality in person before buying.

Online shoppers looking for Cyber ​​Monday offers as comprehensive and plentiful as in previous years are likely to miss out.

Supply chain issues and labor shortages at retailers are among the reasons there will likely not only be fewer discounts but also higher prices when paying online on Monday, said retail experts.

In fact, a survey of 84 retailers found that a third will offer fewer holiday promotions on Cyber ​​Monday than in the past, and 50% will offer fewer online promotions during the general holiday season, in part. because they don’t have the commodity to discount. said Sucharita Kodali, retail analyst at Forrester Research Inc., a Cambridge, Massachusetts-based consulting firm.

“I don’t think that necessarily means less people will be shopping. I think a lot of people… are very interested in spending,” said Kodali, who conducted the survey with CommerceNext, a conference for specialists. from retail and direct to consumer brands.

Woodbury-based women’s clothing boutique Penelope is offering a 20% discount on all merchandise sold in the store and online between Black Friday and Cyber ​​Monday, said Gabrielle Banschick, co-owner of the company. family.

Although Penelope’s online sales are increasing every year, especially during the COVID-19 pandemic, the vast majority, 80%, of the store’s sales are made in the physical store, she said.

But participating in Cyber ​​Monday promotions is only part of the business now, she said.

“Because we want to generate as much business as possible.… Just give people who can’t come to the store the opportunity to shop online on sale as well,” Banschick said.

Photos of the store’s merchandise on Instagram are a bigger driver than the retailer’s e-commerce site, she said.

“We have a huge number of followers on Instagram and tons of people come from Instagram,” Banschick said.

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David A. Albanese