The Adobe holiday forecast projected this year’s online spending to bring in $189 billion from Nov. 1 to Dec. 31. They predict Cyber Monday will account for $12.5 billion of that. In 2019, online spending saw a 13% increase from the previous year, a 33% increase is expected in this years sales.
Cullen doesn’t believe that low sales on Cyber Monday will hurt businesses.
“Whether consumers spend the money on Cyber Monday or Tuesday, that sale is still going to benefit the retailer. I think it doesn’t necessarily matter if it was bought on Cyber Monday, but what we’re seeing is that people are excited about these deals and promotions in general,” she said.
Miamisburg resident Chelsey Gates said she will shop online looking for deals this year as she has in the past. Gates still believes that Cyber Monday has earned its place on the calendar even during the pandemic.
“I do think Cyber Monday is a real thing this year, because there will be more sales this Monday even though they did many sale throughout the month,” Duke said.
Dugan said businesses without an online presence will struggle this year due to the pandemic.
“I think overall this holiday season, spending is going to be down so obviously retail establishments are just going to get killed. If you don’t have an online presence and just a brick and mortar presence it’s going to be really tough.” he said.
While unemployment has dropped, many are still left without jobs as the virus surges and that could curtail shopper spending abilities. “I mean I think everybody, even online traditional retailers, are going to see a hit because people may not be feeling super confident right now with discretionary spending,” said Dugan.
Shoppers could see different deals online this year. In the past, retailers have offered deals on appliances, computers and clothes on Cyber Monday, slightly different from Black Friday to keep shoppers engaged.
“Retailers are offering different deals on different days. So you might see that the hot item for Back Friday might be different from the hot item for Cyber Monday,” Cullen said.