Retailers Offer Deep Discounts Ahead of Cyber Monday as Salesforce Anticipates Huge Sales

Holiday shoppers in the U.S. are looking to snag the best deals and take advantage of deep discounts before Cyber Monday. Data from retailer websites shows this trend as the first Monday after Thanksgiving, also known as Cyber Monday, is expected to be the biggest online shopping day in the United States.

According to Salesforce, there was a noticeable pattern on Black Friday of shoppers spending time and effort to find the best-value merchandise at the lowest cost. Rob Garf, vice president and general manager for retail at Salesforce, noted that despite the earlier start to holiday promotions by retailers this year, consumers were patient and ultimately benefited from the game of discount chicken.

On Black Friday, retail discounting increased to an average of around 30% in the U.S., resulting in online spending of $16.4 billion domestically and $70.9 billion globally on that day.

Salesforce anticipates that Cyber Monday will see similar average discounts of about 30%, but warns that waiting for products may result in them being unavailable.

Rival Adobe Analytics forecasts that shoppers will spend a record $12 billion on Cyber Monday, representing what it says will be the largest-ever e-commerce shopping day in the U.S. Retailers are expected to offer average price cuts of 30% on electronics and 19% on furniture.

Adobe’s lead analyst, Vivek Pandya, mentioned that last-minute Cyber Monday shoppers could spend $4 billion between 6 p.m. and 11 p.m. EST alone, as they may be concerned about a potential decrease in discounts after that time.

Overall, consumers are strategically seeking to maximize their shopping when they anticipate the best discounts. The online retail sector provides an environment where consumers have more control, especially in categories such as toys and seasonal holiday merchandise. Online merchants are competing for consumer spending, and consumers can easily compare prices.

Mastercard reported that e-commerce sales rose 8.5% on Black Friday, while in-store sales increased by 1%. Steve Sadove, senior adviser for Mastercard, noted the significant growth of digital sales during the pandemic and highlighted the continuous importance of digital channels in the retail industry.

In conclusion, with the increasing shift toward online shopping and the anticipation of huge sales on Cyber Monday, consumers are carefully navigating through the available discounts to make the most of their holiday shopping. It’s an exciting time for both shoppers and retailers as the holiday season kicks off with great deals and opportunities to make the most of their purchases.