Americans Strategize for the Ultimate Deals in Cyber Monday Shopping Spree
Written By Shafeek Ahmad, Published On 26-November-2023.
Editor’s Note: As holiday fervor sweeps across the U.S., the pursuit of the best online deals intensifies. Shoppers exhibit strategic buying patterns, reflecting a changing landscape in the retail domain.
Holiday shoppers in the United States are meticulously planning their purchases, seizing the most lucrative deals, and navigating through steep discounts in anticipation of Cyber Monday, as reported by data compiled from various retailer websites.
The Cyber Monday Surge:
Widely recognized as the pinnacle of online shopping post-Thanksgiving, Cyber Monday is poised to claim the title of the most substantial online shopping day in the United States.
Rob Garf, Vice President and General Manager for Retail at Salesforce, notes a distinctive trend on Black Friday. Shoppers displayed a discernible preference for meticulously selecting low-cost, high-value products. Despite a somewhat restrained start to holiday promotions, consumers exhibited patience and diligence, eventually benefitting from substantial discounts.
Black Friday Highlights:
On Black Friday, retailers amplified discounts to an average of 30% in the U.S., prompting consumers to click the “buy” button enthusiastically. The result was a staggering $16.4 billion spent online in the U.S. and a global expenditure of $70.9 billion, according to Salesforce.
Garf emphasizes the significance of this surge, suggesting that the robust Black Friday performance will positively impact the overall Cyber Week, spanning from Tuesday to Monday.
The Cyber Monday Landscape:
As Cyber Monday unfolds, Salesforce anticipates another round of discounts averaging 30%. However, Garf cautions that delayed purchases may risk product unavailability.
Adobe Analytics, a rival to Salesforce, forecasts a record-breaking spending spree of $12 billion on Cyber Monday, representing a 5.4% increase from the previous year. Vivek Pandya, Lead Analyst at Adobe Digital Insights, highlights average price cuts of 30% on electronics and 19% on furniture.
Pandya predicts a substantial last-minute surge on Cyber Monday evening, with potential spending reaching $4 billion between 6 p.m. and 11 p.m. EST. Shoppers are motivated by concerns about diminishing discounts after this window.
Insights from Mastercard:
Mastercard, measuring retail sales across all payment forms, notes an 8.5% rise in e-commerce sales on Black Friday, contrasting with a 1% increase in in-store sales. Steve Sadove, Senior Adviser for Mastercard, observes a renewed emphasis on digital sales, signifying a shift in consumer behavior.
In the evolving landscape of holiday shopping, consumers appear to be steering the wheel, leveraging online platforms to make informed and strategic buying decisions, particularly in sectors such as toys and seasonal merchandise.
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Disclaimer:- This news article was written by the help of syndicated feed, Some of the content and drafting are made by the help of Artificial Intelligence (AI) ChatGPT.
About the author: Shafeek Ahmad is a freelance writer passionate about business and entrepreneurship. He covers a wide range of topics related to the corporate world and startups. You can find more of his work on Howtobeaspoonie.com.