November 26, 2020
With a little over a month to go, 2020 is gradually coming to an end – and we can probably all agree we’ve been through a lot.
Now is the time to remember, acknowledge, and celebrate everything we’re thankful for. We’ll go first: we appreciate your continued support, feedback, and loyalty. Thank you for sticking around for almost a year!
Today, take a moment to appreciate your families, friends, and all the good things that are coming.
The Essence of Email team wishes you good health, great times, and a peaceful future.
Black Friday/Cyber Monday 2020
It’s that time of year again!
The busiest season in eCommerce is upon us. As you probably already know, some major brands including Walmart, Target, and Home Depot announced their brick-and-mortar stores will be closed for Thanksgiving. But they won’t be closed for long.
Walmart, for example, is opening its doors to customers the very next day, so customers can continue shopping both online and in-store for the rest of the holidays. However, it’s expected that online shopping will be more popular than in-store shopping this year, as people are, quite naturally, afraid of being in crowded places.
So, what are the predictions for this year’s Black Friday and Cyber Monday?
As you know, the COVID-19 crisis has accelerated the transition to online shopping. As a result, we’re seeing holiday deals starting earlier this year. Although many people are experiencing job uncertainty, this is unlikely to stop them from shopping for the holidays – at least according to some predictions.
To make a long story short…
A Deloitte Retail Trends report states that 2020/21 eCommerce holiday sales will grow by 25% – 35% in comparison to 2019 and generate between $182 billion and $196 billion. In-store sales are expected to drop by 2.7% but are still expected to generate $964 billion despite this. All in all, holiday spending is expected to increase by 1% – 1.5% in comparison to 2019.
Get the stats: Black Friday weekend sales are growing steadily year after year, with US retailers generating more than $5 billion in online sales between 2013 and 2019 and spending an added $2 billion, on average, between 2018 and 2019 alone. Black Friday, of all the days during Thanksgiving week, is the most popular for shopping. A total of 61% of shoppers said they planned to shop on Black Friday in 2019 and it seems that this trend is set to continue in 2020.
In 2019, from Thanksgiving to Cyber Monday, shoppers spent an average of $361.90 on holiday items. That’s a 16% increase from 2018 and a 25% increase from 2016. Let’s see if 2020 beats this.
What’s hot this season?
We’re still all about that indoor life! According to USA Today, some of the most popular items this season include AirPods, coffee makers, blankets, slippers, and loungewear. Also hot on the market are yoga mats, health and beauty items, jewelry, and non-apparel fashion. It’s expected that these products will top the list of best-sellers throughout the holiday season. But if these market predictions are anything like the polls, the real outcome is anyone’s guess!
At Essence of Email, we’re excited about what could be a record-breaking period – at least for email! Based on our clients’ plans and their results so far, this is the holiday season to watch.
So there you have it – BF/CM in a nutshell. We hope it’s helped you to get perspective on this year’s sales. Happy shopping!
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