When shoppers were busy grabbing Black Friday deals, retailers had started preparing for Cyber Monday — the next big shopping event. In fact, Cyber Monday has hogged maximum consumer attention in the recent past as “the preferred day for deals.”
Overall, the entire cyber weekend is crucial for retailers. Cyber Monday is the Monday after the Thanksgiving holiday, which was created by retailers to “encourage people to shop online.” Black Friday, the day after Thanksgiving, marks the start of the holiday shopping season. Most retailers offer promotions and discounts during this time.
“A solid rule of thumb is that Black Friday is a better time to buy newer, big-ticket items. It’s also the best day to shop in stores, though you can also shop online. Cyber Monday is a better day to shop for tech deals and smaller gifts. You’ll also see slightly better discounts online,” as per an article on businessinsider. The trend is, however, changing lately with Cyber Monday receiving more prominence. The extent of deals and discounts are almost similar on these days.
How Is Consumers’ Shopping Spree This Cyber Weekend?
Consumers shelled out about $9 billion (a new record) on the web on Black Friday, up 21.6% year over year, according to data from Adobe Analytics (which tracks website transactions from 80 of the top 100 U.S. online retailers), as quoted on CNBC.
Cyber Monday 2020 is expected to turn out the biggest digital sales day in history in the United States. Spending should be between $10.8 billion and $12.7 billion, indicating year-over-year growth of 15% to 35%. Thanksgiving Day online sales also hit a record $5.1 billion, up 21.5% from last year, per Adobe Analytics, as quoted on CNBC.
What Were at the Top of the Shopping List?
New consoles, phones, smart devices and TVs that are usual Black Friday purchases have now taken place online this year. Surprise Black Friday purchases like groceries, clothes and alcohol that would earlier were bought in-store are also being parked in online cart, according to Taylor Schreiner, a director at Adobe Digital Insights, as quoted on CNBC.
Toys and personal care products were among the winning categories of this year shopping, according to Adobe, as quoted on CNBC. “Online spending on toys shot up 294% and rose 278% on personal care products compared with October daily averages. Sales of office supplies and bedding grew by 114% and 109%, respectively”.
Stocks to Win
Mattel Inc. MAT
The Zacks Rank #2 (Buy) company is the world’s largest manufacturer of toys. Consumers’ solid spending on toys should make the company a winner this year.
Sony Corporation SNE
Sony Corp. could gain this weekend on deals for newly released PlayStation 5 gaming console and smart TV that are in huge demand. The stock has a Zacks Rank #3 (Hold).
Apple Inc. AAPL
Likewise, deals on AirPods, iPhone, iPad, MacBook and Apple Watch put the company in the spotlight. Some of the Apple deals are “Save up to $900 on iPhone 12 with qualifies activation and trade-in with AT&T and Verizon (up to $450)”, “Get up to $950 off iPhone 12 Pro Max or iPhone 12 Pro via 30 monthly bill credits when you join and trade in an eligible device” and “iPhone 12 and iPhone 12 Pro Save up to $900 with qualified activation and trade-in,” as quoted on Forbes.
Wayfair Inc. W
Consumers have been spending ontheir homes throughout the pandemic as the work-from-home trend led them to do so. So, a loyal Wayfair shopper will definitely target the Zacks Rank #2 online furniture store to avail solid discounts this season. Notably, the store’s extended Black Friday sale features up to 80% off deals on living room seating, outdoor pieces, area rugs and décor.
The Home Depot Inc. HD
The Zacks Rank #3 home improvement store has also joined the deal euphoria, having thrown a flurry of deals earlier this month that will run through to Dec 2. Deals are on for a range of products from bedding to kitchen essentials.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it’s predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce “the world’s first trillionaires,” but that should still leave plenty of money for regular investors who make the right trades early.
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