Analysts expect Cyber Monday 2020 to be the biggest online shopping day in US history, with anticipated sales of $10.8 billion to $12.7 billion.
On Black Friday this year, consumers dropped $9 billion online, a 21.6% increase over 2019, according to data from Adobe Analytics. The jump made this year’s Black Friday the second largest online spending day ever for Americans, just shy of the record $9.4 billion spent on Cyber Monday 2019.
Covid-19 restrictions drove some of the sales. States that limited gatherings saw 265% year-over-year growth in online shopping on Black Friday, compared to states without restrictions. With consumers looking to avoid crowds and indoor shopping, Adobe also found a 52% year-over-year increase in curbside and in-store pickup.
Like every year, some products were more in demand than others. Hot Wheels, hoverboards, and Lego sets were big ticket toys, while Apple AirPods, Apple Watches, and the Amazon Echo topped the list for electronics.
Despite the significant amount of money expected to be dropped on Cyber Monday, the numbers pale in comparison to the world’s largest shopping event. Single’s Day, held by Chinese e-commerce giant Alibaba, dwarfs both Black Friday and Cyber Monday by an order of magnitude. The Nov. 11 shopping day generated $74.1 billion this year, or nearly the GDP of Guatemala.