Cyber Monday and Black Friday ecommerce sales to exceed $10 billion this year

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 23, 2020, 6:03 AM GMT+0

The 2020-2021 holiday season could witness ecommerce sales go through a 25% to 35% YoY growth, as per Deloitte.

The shorter calendar space between Thanksgiving, Hanukkah and Christmas in 2020 will benefit the holiday season. Given this, Cyber Monday and Black Friday ecommerce sales are expected to break the $10 billion mark this year. Additionally, Thanksgiving is forecasted to see 49.5% growth.

According to eMarketer, US retail sales will jump 0.9% to $1.013 trillion, with ecommerce sales going up by 35.8% to $190.47 billion. However, US physical retail sales will decline by 4.7% to $822.79 billion.

39% of consumers will spend more during this shopping season, while 44% of customers will most likely spend as usual, according to McKinsey & Company. Moreover, majority of consumers will be influenced by better prices/ promotions, followed by better value.

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