Cyber Monday is one of the biggest sales in the United States. Thousands of people tend to purchase a lot of things before the festive season. The sales of different commodities usually skyrocket on this day. Loads of offers and deals galore on this day.
However, the festive season is not the same this year. The onset of the covid pandemic has impacted people’s lives significantly. A lot of people lost their jobs due to the shutdown. Families are in dire need of financial assistance at the moment. The federal government provided stimulus checks to the needy. However, that money was used up quickly. Such a situation saw the sales going down in America. The Black Friday Sales also suffered a notable dip.
One of the biggest reasons for the slow sales was the lack of offers. The buyers were not offered much of a deal. Most of the online platforms opted for fewer deals and offers. This repelled the buyers to a great extent. The sales turnover on Cyber Monday was recorded at $7million till 9 pm. Let us learn more about the incident in detail below.
Cyber Monday Records Low Turnover
Taylor Schreiner is the director of Adobe Digital Insights. Taylor stated that the sales on special occasions are going down. This trend has been recorded for the first time in history. Salesforce is a leading retail chain in the United States. General Manager Rob Garf stated that echoed Taylor’s words. He said that the excitement in this year’s Cyber Monday was not so great.
However, another contrasting data was revealed. It stated that the shoppers have spent fourteen percent more during the last weekend of November. This was quite the opposite of how the people reacted to the Cyber Monday sale. This data was calculated by MasterCard SpendingPulse.