Dec 1, 2020
Cyber Monday was so massive that retailers are trying to keep the online shop-athon going — by extending their deals for at least a day or two, or even throughout this “Cyber Week” and beyond.
Monday’s e-commerce holiday “continued to dominate the holiday shopping season, becoming the biggest online shopping day in U.S. history, despite early discounts from retailers," says Taylor Schreiner, director of Adobe Digital Insights.
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Amazon is already declaring the holiday sales season the “biggest yet” for the online superstore and is continuing to some of the head-turning bargains that were available on Monday. Many of its competitors are doing the same, so you may need some help identifying the really great discounts.
A stunner of a Cyber Monday
Amazon says its Cyber Monday prices debuted early, so consumers would have more time to shop.
Retailers expected more people would want to browse deals from the comfort of their homes after Thanksgiving, rather than make tense visits to brick-and-mortar stores during the pandemic. So some of the best deals were offered online, and consumers responded in a big way.
They spent a record $10.8 billion during Cyber Monday, according to Adobe Analytics, and that’s up more than 15% from last year.
Even Black Friday, the day Americans associate with in-store shopping, broke online shopping records this year, with $9 billion in online buying, Adobe says.
Amazon says it kicked off its sales earlier than usual to give customers more time to shop.
The site’s biggest sellers? Barack Obama’s new book A Promised Land and self-care products like hair brushes. Amazon says shoppers are looking for gifts that are good for “nesting at home, and cozy comfort.”
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Adobe is predicting that total U.S. online spending for the holiday season will hit $184 billion, which would be a 30% bump over last year.
Online sellers are doing everything they can to keep consumers clicking and spending, to maintain the momentum from Cyber Monday.
Home Depot, Pottery Barn, West Elm and others have extended their Cyber Monday deals by a matter of days; Target and Walmart are advertising discounts for the entire Cyber Week; while Wayfair, Macy’s and Ikea are announcing online sales on top of sales.
Amazon isn’t advertising Cyber Week sales specifically but is still offering deep discounts on some items — for example, Echo smart home and smart car devices are up to 60% off.
Sorting through all these deals doesn’t have to be a chore. You can just download a free browser extension that will scan through Amazon, Target and other big sites, and instantly show you where to find the better prices.
With so many incredible offers out there, the last thing you want to do is overpay.
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Ethan Rotberg was formerly a staff reporter at MoneyWise. His background includes nearly 15 years as a writer, editor, designer and communications professional. He loves storytelling, from feature writing to narrative podcasts. His work has appeared in the Toronto Star, CPA Canada and Metro, among others.
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