2020 Black Friday and Cyber Monday Statistics

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2020 Black Friday and Cyber Monday Statistics

Ecommerce Statistics and Black Friday and Cyber Monday Trends 2020: The Impact of COVID & The Rise of New Tech

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Q3 2020 hedge fund letters, conferences and more

Website Builder Expert have launched a new resource graphic guide looking at the state of Ecommerce in 2020 and the factors that have affected it including the COVID-19 pandemic and the rise of new trends and technologies such as Mobile-purchasing, Personalization/Localization, Voice Assistants and more.

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Impact of COVID on Ecommerce

Key finding: Due to the pandemic, ecommerce sales have grown substantially in comparison to the rest of the retail industry – 36% of consumers shop online weekly since the outbreak of COVID-19, as opposed to 28% before.

However, ecommerce hasn’t been spared from the overall decline in retail sales in light of the pandemic. US ecommerce sales are expected to jump by 18% in 2020, but it's predicted that total retail sales in the US will decline by 10.5%.

Black Friday and Cyber Monday

How Much Money Is Really Spent Online

Key finding: Global shoppers drove a 75% growth in digital commerce in Q2 2020 over Q2 2019, outperforming the holiday shopping season of 2019, which was considered one of the best sales seasons in recent years.

Black Friday and Cyber Monday

Key finding: The borderless nature of ecommerce works well in today’s globalized world. The two top markets – China and the US – have large numbers of cross-border online shoppers: 149.42 million and 82.72 million, respectively.

Black Friday and Cyber Monday

Mobile Vs. Desktop Shopping

Key finding: Mobile shopping has been on the rise for a while. However, even though more than half of all time spent on retail websites takes place on a mobile device, sales made on desktops are still worth more money on average. Customers also order more products on desktop than on mobile, with item counts per order 24% higher on desktop devices.

Ecommerce

The Impact of New Technology on Ecommerce

Personalization/Localization facts graphic:

Ecommerce

Voice Assistants key finding: Voice assistants are an up-and-coming giant in the ecommerce industry – so it’s important for merchants to be prepared. When Adobe surveyed 400 business decision makers in 2018, 91% said they were already making significant investments in voice technology. But it’s important to plan for new challenges as well: Because voice technology devices are still so new, they’re more susceptible to security vulnerabilities and fraud.

Chatbots key finding: We’ve seen how chatbots can be convenient for customers. But they can be beneficial for merchants, too: Chatbots could save companies up to 30% in customer service spending, and companies in banking and healthcare alone are expected to save $8 billion by 2022 by using chatbots.

Black Friday and Cyber Monday Statistics

Ecommerce

Black Friday and Cyber Monday: What Should I Do Differently This Year - The Expert Contributors

  • Tim Clarke - SEOBLOG
  • Daniel Foley - Daniel Foley SEO
  • Michael Anderson - Geo Jango
  • Calloway Cook - Illuminate Lab
  • Samiksha Desai - Yummy Tummy Recipes
  • Karl Robinson - Logicata
  • Ben Bailey - Ventured
  • Laura Fuentes - Infinity Dish

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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