If retailers were worried that Black Friday sales would be a bust in this dismal year of 2020, they got a surprise as when the dust settled, they found sales set a record high.
A new record was set on Black Friday this year, Adobe Analytics data reported. Retailers racked up $9.0 billion, an increase of 21.6% over last year. Analysts also expect that number to pale compared to sales on Cyber Monday.
Per ABC News:
It was the second-largest online spending day in U.S. history, coming in behind Cyber Monday 2019. Adobe expects Cyber Monday 2020 to become the largest online sales day in history, with spending between $10.8 billion (15% year-over-year growth) and $12.7 billion (35% year over year growth).
Should Congress Remove Biden from Office?
Still, even with the record sales, in-person shopping fell 52.1 percent compared to 2019. This is unsurprising with the coronavirus.
COVID-19 restrictions on family gathering drive sales: In states that put COVID-19 restrictions around family gatherings, there was 265% higher year-over-year growth in online shopping over the last two days compared to states with less restrictions.
“We are seeing strong growth as consumers continue to move shopping from offline to online this year. New consoles, phones, smart devices and TVs that are traditional Black Friday purchases are sharing online shopping cart space this year with unorthodox Black Friday purchases such as groceries, clothes and alcohol, that would previously have been purchased in-store,” said Taylor Schreiner, director, Adobe Digital Insights, in a statement.
Some retailers also think that shoppers are spreading their holiday shopping out over time this year instead of getting a majority of it down on one day.
So, with all these idiotic coronavirus restrictions, there is a lot more shopping going on online.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.