Insider Business Retailers see biggest-ever Cyber Monday

Retailers see biggest-ever Cyber Monday

U.S. retailers kicked off Cyber Monday by launching a slew of deals earlier than usual over the weekend, seeking to sustain the momentum of a record $11.6 billion in online sales on Thanksgiving and Black Friday.

Shoppers already had nearly a month of sales promotions as retailers look to draw out a holiday season that on paper is six days shorter this year due to a late Thanksgiving.

But estimates from Adobe Analytics on Sunday predicted the opening weekend of U.S. retailers’ crucial holiday season would set a new record of almost $30 billion in sales, with Cyber Monday – now traditionally the U.S. economy’s biggest online shopping day – alone expected to reach $9.4 billion.

Amazon.com Inc and other traditional retailers such as Target Corp and Walmart have beefed up delivery services to fulfill online orders faster as more customers shop on their mobile phones and tablets at home.

“We expect Cyber Monday to be the second most popular day of the five-day shopping period, mostly driven by mobile traffic, Cowen analyst Oliver Chen said.

Digital sales this year are also likely to get a big boost from orders through social media platforms like YouTube, WeChat, Instagram and Facebook.

“Brands and retailers will feel the effects of a Gen Z with even greater purchasing power,” said Rob Graf, vice president of strategy and insights at business software provider Salesforce.

“They are also pushing the boundaries of where actual purchases will happen.”

This year, Target made free shipping available to all its customers throughout the shopping season, while Walmart offered shoppers the option of free two-day shipping or in-store pickup on the same day.

A clear winner so far of the early deals and ramped up preparation for the holidays, were retailers with greater online presence or those who had services such as “buy online and pick up at store”.

The National Retail Federation estimates nearly 69 million Americans will scour the web for deals on everything from Apple Airpods Pro and homeware to toys, and Adobe estimates sales of $9.4 billion would be a 19% increase on the same day a year ago.

For interactive graphic, click link: https://tmsnrt.rs/2ODjISG

Target on Black Friday announced that it would kick off a week of online discounts a day before, while Kohl’s Corp started online deals on Saturday, with deeper discounts on Monday.

However, the deluge of online orders are pressuring websites, some of which have experienced outages and other technical glitches.

Costco’s website went down for a brief period early on Thanksgiving Day, while Danish jewelry maker Pandora had Black Friday payment issues at U.S. and Canadian concept stores. “#CyberMonday2019 The day of the year 85% of the U.S. population pretends to actually be working,” tweeted Erika Mayor, a user in Miami.

(Reuters)

Top Stories

126 new cases, two deaths announced on Monday

The Health Ministry announced the death of two persons due to COVID-19. This raises the death toll from the virus in Cyprus to 188,...

Where to get antigen rapid tests on Tuesday, 26 January

The Health Ministry announced the following antigen rapid test sites for Tuesday, 26 January 2021:   LIMASSOL Church of Panagia Chrysaifyliotissa, Agia Fyla 08:30-16:30 Church of Panagia Evangelistria,...

Cyprus government aims at gradual lifting of restrictive measures

The Cyprus government aims at the gradual lifting of restrictive measures against the spread of COVID-19 in the context of a concrete plan, with...

Shot flamingo found in Paralimni lake

Birdlife Cyprus announced that a flamingo was found wounded in the Lake of Paralimni. Members managed to save the bird and take it to a...

Epidemiologists agree to include colchicine in treatment protocol

The scientific team of the Health Ministry is ready to include colchicine in the treatment protocol to face COVID-19, Konstantinos Tsioutis, assistant professor of...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...