- The Washington Times - Monday, November 30, 2020

Happy Cyber Monday? It could prove to be very happy indeed for retailers.

“Analysts expect Cyber Monday 2020 to be the biggest online shopping day in U.S. history, with anticipated sales of $10.8 billion to $12.7 billion,” reports Quartz.com, a news organization focused on the global economy.

“On Black Friday this year, consumers dropped $9 billion online, a 21.6% increase over 2019, according to data from Adobe Analytics. The jump made this year’s Black Friday the second largest online spending day ever for Americans, just shy of the record $9.4 billion spent on Cyber Monday 2019,” the news organization said in an analysis.

“Covid-19 restrictions drove some of the sales. States that limited gatherings saw 265% year-over-year growth in online shopping on Black Friday, compared to states without restrictions. With consumers looking to avoid crowds and indoor shopping, Adobe also found a 52% year-over-year increase in curbside and in-store pickup,” Quartz.com said.

But there is much competition from a similar phenomenon overseas.

“Despite the significant amount of money expected to be dropped on Cyber Monday, the numbers pale in comparison to the world’s largest shopping event. Single’s Day, held by Chinese e-commerce giant Alibaba, dwarfs both Black Friday and Cyber Monday by an order of magnitude. The Nov. 11 shopping day generated $74.1 billion this year, or nearly the GDP of Guatemala, the Quartz analysis said.

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