Even though far more Americans shopped online than in stores over the Thanksgiving-Black Friday weekend, they are apparently not done yet.
A survey released on Sunday by the National Retail Federation and Prosper Insights & Analytics estimates that some 122 million Americans will shop online on Cyber Monday. That’s up only slightly from last year’s 121 million shoppers.
But the increase is notable coming off the Thanksgiving-Black Friday weekend that saw 108.5 million people shop online, well above the 99.1 million who hit stores. What’s more, major retailers, notably Walmart started their Cyber Monday sales way earlier than in preceding years, lest they cede a millimeter of the market to Amazon.com. (Walmart now refers to the shopping occasion as Cyber Week.)
In much the same way Black Friday, as an event, ended up being diluted by Thanksgiving store openings (that started in 2011) and deals starting earlier in November, Cyber Monday is losing some of its impact as a one-day event. In addition to Walmart and Amazon’s deals being spread out, Target is offering discounts on Sunday as well, not only online but, more crucially, in stores. That move, which reflects how people shop in the year 2016, is also meant to lower stress on Target’s web page, which last year buckled under the intense e-commerce pressures that come hand in hand with Cyber Monday.
The evidence of the migration of shopping to e-commerce is incontrovertible: Adobe told Fortune on Sunday that e-commerce sales between Thanksgiving and Saturday rose 17.3% to top $7.2 billion.
SOURCE: Phil Wahba