Today In Retail: eCommerce Sales Spike On Black Friday; US Consumers Expected To Spend $12.7 Billion On Cyber Monday
In today’s top retail news, Adobe reported that online sales on Black Friday hit $9 billion, while U.S. consumers are expected to spend $12.7 billion on Cyber Monday (Nov. 30). Plus, Outback Steakhouse has debuted a new “curbside concierge” option for holiday gift card shopping.
Adobe reported that digital sales on Black Friday reached $9 billion — a rise of 22 percent from Black Friday last year. The company reported that electronics sold particularly well on Black Friday, with smartwatch sales up seven-fold in contrast to a year before. But sales were below Adobe’s forecasts of $10.3 billion for the day.
Black Friday shoppers stayed home, providing a feared blow to brick-and-mortar merchants on what typically is one of their largest days of the year. About 50 percent as many shoppers as normal reportedly visited brick-and-mortar locations.
Outback Steakhouse has introduced a new “curbside concierge” choice for holiday gift card shopping. Customers can call ahead or travel to their nearby eatery and drive into a set parking space with the offering. A member of the team will then go to their vehicle to finish the gift card purchase. The service will be provided from Nov. 30 to Dec. 24.
American consumers are forecast to spend $12.7 billion on Cyber Monday (Nov. 30), a 35 percent rise over last year per Adobe Analytics. It’s a day that will test supply chains and fulfillment functions that were already challenged by a record-busting holiday spending take so far.
A formidable spike in consumer spending on retail is probable to the be primary economic driver in China as the nation bounces back from the impacts of the coronavirus. The proof could be seen strongly during and around the Singles Day event Nov. 11. That event became a 11-day spree in 2020 and shoppers spent $75.8 billion in orders.