Record-Breaking Holiday Sales
January 6, 2020
The biggest season of the year for merchants has come to an end. This year’s holiday shopping frenzy resulted in record-setting sales and new trends that took off like wildfire. Early retailing, as well as continuous shopping deals and events, has established a longer more progressive holiday shopping season.
Adobe Analytics, which tracks sales at 80 of the top 100 online stores in the United States, have reported and spoke about the record-breaking shopping season. Vivek Pandya, lead analyst at Adobe, said in the report, “The weekend between Black Friday and Cyber Monday is emerging as a truly lucrative period for online commerce. With a projected $7.6 billion generated over Small Business Saturday and Super Sunday, consumers are taking advantage of post-Black Friday deals and are accelerating spend in the run-up to Cyber Monday.” Black Friday isn’t just a day anymore — it’s a whole season. Although it remains one of the biggest shopping days of the year, it shares the spotlight with Thanksgiving, Cyber Monday, and the two weekend days in between. Thanksgiving is now the third-biggest shopping day of the year, behind Black Friday and Cyber Monday, according to Salesforce. Thanksgiving Day and Super Sunday saw the biggest increase in same-store sales, with 26% growth from 2018, more than any other day of Cyber week.
Cyber Week, the biggest week for online shopping of the year, set records this holiday season, projecting to reach the $1 trillion threshold. A whopping total of $7.4 billion of that was spent on Black Friday alone, setting a record for digital sales with an increase of 14% from last year. Cyber Monday, the biggest day for online shopping of the year, also set records this year with a total of $9.4 billion spent, surpassing the previous year’s sales by $1.5 billion, a 19.7% increase. It was the largest shopping day of all time in the U.S. In fact, Amazon said Cyber Monday was again its biggest sales day ever by the number of items ordered worldwide. Popular items on both days included Frozen 2 toys and sports video games.
“We’re seeing a very strong digital holiday thus far. It was in large part because of the demand retailers were trying to drum up since early November,” said Rob Garf, Salesforce vice president of retail strategy and insights. It has been forecast by Adobe Analytics that every day in November so far has already surpassed $1 billion in online sales, totaling to nearly $30.4 billion from November 1 through 22 only, accounting for nearly 18% year-over-year growth. This has created a new paradigm for shoppers and retailers as they plan on continuing the trend.
Not only did early retailing increase sales, but it also allowed for more holiday shopping, some of which is still going on. The National Retail Federation predicts 148 million Americans will shop in store or online the last Saturday before Christmas. That’s almost half of the U.S. population, and 14 million more people than 2018’s “Super Saturday.”