9.12.2020

Online sales hit record highs over Black Friday and Cyber Monday

Written by Kadence Edmonds

rupixen online shopping laptop unsplash

The numbers are in following the conclusion of one of the biggest sales weekends on the retail calendar: Black Friday and Cyber Monday. 

The statistics show a dramatic increase in online shopping. While shoppers were able to pick up bargains in store, footfall was down and there was an increase in the amount that was spent online through ecommerce platforms. 

According to Adobe Analytics data, which analyses 80 of the top 100 U.S. retailers, digital sales on Black Friday reached $9 billion — a rise of 22 percent from Black Friday last year. Cyber Monday saw holiday shoppers spending $10.8 billion online, resulting in a 15.1% increase year over year, setting a record for the largest U.S. shopping day ever. Adobe further forecasts the entire holiday season’s online spending at $184 billion, which is a 30% increase from last year. 

Smartphones continued to account for an increasing proportion of online sales, with this year’s $3.6 billion up 25.3%, while alternative deliveries — a sign of the e-commerce space maturing — also continued to grow, with in-store and curb side pickup up 52% on 2019.

This growth is fueled by both a shift in consumer behaviour and the transformative climate made by the pandemic cementing the fact that online shopping is the future of retail.  

Ecommerce platform, Shopify ,has reported record-setting Black Friday sales with Shopify merchants in Japan (347%), Italy (211%), Germany (189%), and UK (122%) seeing triple-digit growth of sales on the platform since last year.

We’re thrilled with the Black Friday sales generated by the businesses on Shopify. In just a single day, merchants around the world produced more than 80% of the sales of the entire holiday shopping weekend last year,” said Harley Finkelstein, President of Shopify. “With more consumers than ever shopping online this year, we anticipate this weekend being one of the biggest ecommerce events in history, as consumers vote with their wallets and support the independent and direct-to-consumer businesses they love.”

Retailers must be ready for multichannel management 

As online sales have taken control over the past few years, online shopping and brick-and-mortar solutions need to be working in synchrony.  COVID-19 has made in-store shopping more stressful to most consumers, so retailers need to be ready to offer a seamless multi-channel experience.  

Even though the move to multichannel management with the addition of ecommerce is a new challenge for retailers, it is highly important. It is essential that brands today need to deliver a seamless experience to their customers by ensuring consistent pricing, accurate inventory reporting, and reliable delivery frameworks. Simply put, customers expect to have the same shopping experience regardless of whether they purchase through your website or at a physical store.  

The best way to introduce this consistency is by having an ecommerce website that syncs with your physical store’s POS system. And with the advancements in technology and integrations, managing these two channels of business is becoming an even more seamless process. 

Seamlessly manage multi-channel selling with Epos Now

Your point of sale system is crucial to your business.  With the Epos Now cloud-based POS system you can seamlessly integrate your physical store with your online store and manage your data from one central location.  

With the Epos Now POS system and BigCommerce integration, you can:

  • Reduce the risk of selling out of products with accurate inventory management
  • Reduce admin hours with automatic product updates
  • Seamlessly share customer data between systems

Contact a consultant to learn more about Epos Now!