Just as shoppers are preparing to grab the Black Friday deals, retailers have started preparing for Cyber Monday — the next big shopping event. In fact, Cyber Monday has grabbed the maximum consumer attention in the recent past as "the preferred day for deals".
Deloitte expects 53% of people to target Cyber Monday for discounts, while 44% are relying on on Black Friday this year. Adobe is forecasting $7.5 billion in sales for Black Friday and $9.4 billion for Cyber Monday.
These Are Just Two Marketing Terms; Deals Becoming Similar
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.
But of late, extent of deals and discounts are becoming almost similar on these days. In fact, consumers have been shopping this year all through November. Still, Cyber Monday is mainly meant for online shopping. And with online shopping going through the roof this year, Cyber Monday draws special attention.
Investors should note that Thanksgiving this year crossed about $4.4 billion in online sales for the first time ever. It means things are shaping up well this Cyber Weekend.
Euphoria for Cyber Monday Appears Stronger
As many as 65% of Gen Z is expected to make the most of Cyber Monday deals, followed by 61% of millennials, 49% of Gen X consumers, 47% of baby boomers and 44% of seniors. In comparison, 58% of Gen Z consumers, 54% of millennials, 39% of Gen X shoppers, 37% of baby boomers and 34% of seniors consider Black Friday as a key deal-grabbing day.
Deloitte gathered this data by polling 4,410 consumers online from Sep 6 to 13. Deloitte also indicated that 70% of smartphone users intend to use their phones to make purchases this holiday season, leading to an uptick in Cyber Monday sales.
Companies to Watch in Cyber Weekend
eBay (EBAY - Free Report) has already come up with a variety of deals for the upcoming Cyber Weekend and Cyber Monday. Walmart WMT and Amazon (AMZN - Free Report) are not lagging on this front either.
Some of the hot Cyber Weekend deals are pertaining to Apple’s (AAPL - Free Report) AirPods Pro, iPhones, and Apple Watch,Sony’s (SNE - Free Report) noise-canceling headphones and TV,Alphabet’s (GOOGL - Free Report) Home Mini smart speaker, Smart Home TV Kit and Home Mini w/ 3 Disney Books, Roku’s (ROKU) Streaming Stick 4K, HP’s (HPQ - Free Report) laptops, Fitbit’s (FIT - Free Report) Charge 3, Dell (DELL - Free Report) laptops as well as Amazon’s Fire products.
ETFs in Focus
Against this backdrop, investors can bet on Amplify Online Retail ETF IBUY, Apple-Heavy ETFs like Select Sector SPDR Technology ETF (XLK - Free Report) , Amazon-heavy ETFs like ProShares Online Retail ETF ONLN) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report) , HP-heavy ETFs like 3D Printing ETF (PRNT - Free Report) , Roku-heavy ETFs like ARK Web x.0 ETF ARKW and Fitbit-heavy ETFs like SPDR S&P Technology Hardware ETF (XTH - Free Report) .
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