MGR eCommerce Edge Weekly | December 2, 2020
Top News This Week
Cyber Monday Passes $10B in Sales for First Time
Cyber Monday results are in, US eCommerce broke a single day record achieving $10.8B in single day sales.
Retail stores themselves had their best Cyber Monday ever, up nearly 500% for both big box and independent retail. One of the biggest draws was curbside pickup of products as many customers want to avoid holiday shipping delays.
This is one advantage that traditional retail has over eCommerce exclusive brands, and they are using it to their full advantage. Expect curbside pickup of online orders to become a norm well after this pandemic is over.
The top selling products in the US were Apple AirPods, scooters, Revlon’s Hair Dryer/Brush, and Lego sets.
The question remains what will sales be for the rest of the holiday season, and how much lower will the over all sales numbers be this year vs last due the pandemic.
Other Notable Links:
1. The ultimate brand checklist – SOCIOLOGY OF BUSINESS
2. What does a K-Shaped recovery mean? – BLOOMBERG
3. Watch media brand, Hodinkee, raises at $100M valuation – WALL STREET JOURNAL