Shopping in the COVID Era: Cyber Monday Instead of Black Friday

Cyber Monday Online Sales Surge 15%

[Image source=EPA Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The impact of the novel coronavirus infection (COVID-19) has transformed Cyber Monday into the biggest shopping day of the year.

On the 1st (local time), CNBC cited Adobe's marketing data analytics solution, 'Adobe Analytics,' reporting that this year's Cyber Monday sales reached $10.8 billion (approximately 11.9718 trillion KRW).

This not only represents a 15.1% increase from last year's record single-day Cyber Monday online shopping sales of $9.4 billion but also far surpasses this year's Black Friday record for the highest online sales of $9 billion.

Cyber Monday is the Monday following Black Friday, the biggest shopping season in the United States. Last year, Cyber Monday online shopping sales also surpassed those of Black Friday.

U.S. media reported that many retailers, concerned about crowded offline stores on Black Friday this year, reduced discounts and the number of promotional items compared to previous years, focusing their discount events on Cyber Monday instead.

Taylor Schreiner, Director of Adobe Digital Insights, said that uncertainties surrounding COVID-19, the presidential election, and stimulus packages have led to record-breaking online sales, and he expects this trend to continue through Christmas.