Cyber Monday Will Be The Biggest Online Spend Of The Year With Revenue Over $34 Billion

According to Adobe Analytics, Thanksgiving Day to Cyber Monday will see the biggest online spending up to $34.8 billion. It will be 2.8% of YoY by 2022, and about 16.3% of this will be spent from the Holiday season (November to December). It is really impressive because people weren't quite fond of mobile shopping a few years ago. The lead analyst at Adobe Analytics, Vivek Pandya, says that from now on Thanksgiving raises online spending from online shopping because people are getting comfortable with online shopping. The usage of smartphones is also increasing, so online shopping was inevitable.

Mobile shopping made a record on Thanksgiving after 2012. This year 55% of sales were online through mobile phones, which is about 8.3% YoY. Cyber Monday, also known as Cyber Week, will become the biggest shopping day of this year with $11.2 billion. This is up to 5.5% YoY. Right after it will be Black Friday, the second biggest shopping day of the year. It will be 1% YoY which will bring $9 billion.

Adobe Analytics also analyzed the online traffic to different retail websites in the US. According to that analysis, more than one trillion visits were recorded to US retail sites, with 100 million SKUs, with 18 categories of different retail products. Consumers also weren't behind anything because this Thanksgiving, $5.29 billion with 2.9% YoY was spent on online shopping by consumers. This data was only for the people in the US.

However, in the Holiday season, consumers spent $77.7 billion in almost the whole month of November. It is expected that Black Friday will bring more than $9 billion to this amount, and it will be just 1% of YoY. There are many big discounts on Black Friday and they will be the ones to draw many consumers toward them. Toys have a 34% discount, while electronics and computers have a $27% and 18% discount on average respectively. Apparel and Appliances will see a 14% discount this Black Friday on average, and televisions are 13% discounted.

The categories which are performing well this holiday season are strollers. They are 113% discounted as compared to the discount in 2021. Outdoor grills are showing a 131% discount, while cameras are up to 111% discount, as compared to 2021. Consumers are also doing buy now, pay later offers to manage their budgets. The BNPL revenue was 1.3% online while orders were 0.7% on Thanksgiving Day. Curbside pickup was used in 13% of all online orders. It is less than 2021, 21% to be exact. Curbside pickup will increase around Christmas Day and will be 35% of all online orders.

Read next: The Rise Of Black Friday Sales Have Gone Down Dramatically Due To COVID-19, Says New Study
by Arooj Ahmed via Digital Information World