From last Friday’s “Black Friday” to this Monday’s “Cyber Monday,” global consumers experienced a four-day shopping spree. Sales data indicate that on this year’s “Cyber Monday,” global consumer spending is expected to reach USD 52.7 billion, marking it as the largest single day of online shopping for the year, thus bringing the four-day promotional frenzy to a close.
A perfect conclusion to the 'Black Friday' shopping weekend?
According to data company Salesforce, as of 12:00 PM Eastern Time (1:00 AM Beijing Time on Tuesday), global online sales on “Cyber Monday” increased by 5.3%. The company forecasts that by the end of the day, global online spending will grow by 6% year-on-year, reaching $52.7 billion.
Meanwhile, Salesforce stated that as of 12:00 PM Eastern Time (1:00 AM Beijing Time on Tuesday), U.S. online sales on “Cyber Monday” grew by 2.6% year-on-year to $3.4 billion, adding that by the end of the day, sales are expected to increase by 4% year-on-year, reaching $13.3 billion.
Data analytics firm Adobe Analytics released more optimistic figures: they predict that U.S. consumers will spend $14.2 billion online on “Cyber Monday,” representing a 6.3% year-on-year increase, nearly $900 million higher than last year. This would bring the total online spending over the five days, including Thanksgiving, to approximately $43.7 billion.
Adobe anticipates that the peak of online spending on “Cyber Monday” will occur between 8:00 PM and 10:00 PM Eastern Time on Monday (9:00 AM to 11:00 AM Beijing Time on Tuesday), during which online spending will reach $16 million per minute.
From “Black Friday” to “Cyber Monday” marks the peak shopping weekend of the U.S. Thanksgiving shopping season, and this year’s “Cyber Monday” is also expected to conclude this promotional period successfully. Retailers forecast that the combined online and offline sales during these days will grow by approximately 3% to 4% year-on-year.
Adobe also predicts that on “Cyber Monday,” more than half of U.S. online spending (57%) will be driven by three categories: electronics ($3.6 billion, up 12.5% year-on-year), apparel ($2.7 billion, up 5.8%), and furniture ($1.8 billion, up 5.2%).
“Black Friday” vs. “Cyber Monday”: Competing for online traffic?
Foot traffic reports from both online and offline stores have, to a certain extent, alleviated industry concerns that inflation and tariff-related price hikes in the U.S. would severely impede holiday shopping. Salesforce reported that during this period, the average retail prices in the U.S. increased by 5% compared to last year's Black Friday shopping week, while global average prices rose by 4%.
As an increasing number of consumers prefer online shopping, Cyber Monday, which has traditionally focused more on online promotions, is becoming even more popular. However, the prevalence of online shopping has also prompted e-commerce platforms to start their promotional activities earlier on Black Friday, turning what was once primarily an offline-focused event into a must-win battleground for e-commerce companies.
Vivek Pandya, Chief Analyst at Adobe Digital Insights, stated in a release:
"Although we expect online spending on Cyber Monday to reach a new record high, Black Friday is challenging its status as the premier e-commerce event of the year. Consumers increasingly expect similar deals to be available from the start of 'Cyber Week,' with many eagerly clicking the 'buy' button. In reality, Cyber Monday has become the 'last chance' for significant discounts during the holiday season."
Moreover, the role of artificial intelligence in boosting e-commerce is also evident. Salesforce found that: "Consumers using AI-powered shopping channels showed a stronger purchasing intention than those shopping on social media. During the Cyber Monday shopping event, retailers with proprietary branded shopping assistants on their e-commerce sites experienced sales growth three times faster than those without such assistants."
Editor/melody