What Analysts Are Predicting for Black Friday and Cyber Monday
Black Friday weekend is almost upon us, and if you’re looking to snag a deal, you’re not alone — retail analysts predict more than 88% of Americans (or about 288 million people) will spend money over the five-day period between Thanksgiving and Cyber Monday this year, accounting for more than $148 billion in sales.
According to Finder.com, Black Friday spending is expected to be up $285 million dollars from last year, with Americans poised to spend $148.5 billion in 2020. The site says shoppers will spend an average of $665 during Black Friday weekend, with electronics, furniture and appliances among the most popular categories.
While door-buster deals at the mall and stores like Best Buy and Target are still popular, more and more consumers will be shopping from the comforts of home. Financial analysis site, Stock Apps, says coronavirus fears have “led to the acceleration of online shopping,” with e-commerce becoming a “center of focus.”
The retail trends site, RetailMeNot, meantime, reports three in four people (or 75% of Americans) will be shopping online this season, with 31% of people shopping earlier, to avoid shipping delays or inventory issues. That has led many sites to get a head start on holiday sales in an effort to capture consumer demand.
Amazon launched its “Alexa birthday deals” last week, slashing prices on its most popular Alexa-enabled devices. You can get the Fire TV Stick Lite for just $17, the best-selling Echo Dot for just $18 (regularly $39.99) and the Ring Video 3 Doorbell Camera for just $139 (regularly $199+). Amazon also has daily holiday deals on the site leading up to Black Friday.
In terms of categories, Stock Apps says to expect top deals on electronics like mobile phones, computers, music, and gaming. Shoppers will also be looking for deep discounts on apparel and accessories, along with toys, games and books. The most anticipated items this year include 4K TVs, retro video games and consoles, and toys like Pomsies (an interactive plush animal), L.O.L. Surprise!, Fortnite Monopoly, and Hatchimals.
Both traditional retailers (like Macy’s and Walmart) and “e-tailers” (like Amazon and Zappos) are ready for the online windfall, with sites releasing hundreds of deals in advance, in an attempt to get a jump start on the competition. In addition to Amazon’s deals, Walmart has already released its Black Friday “Deals for Days” way in advance, with wireless earbuds from $20, Roku Smart LED TVs for just $108, and name-brand smartwatches and fitness trackers from $99.
Target’s best Black Friday deals include Bose speakers for $79 (regularly $129), and a massive 60-inch 4K TV for just $399 (more than $100 off). The Home Depot, meantime, has launched a 40% off “overstock” section featuring hundreds of discounted items.
Black Friday is traditionally seen as the kickoff to the busy holiday shopping season. The shopping holiday has expanded beyond a one-day event to include the entire Thanksgiving week (“Black Friday week”) and the following Monday as well — a.k.a. “Cyber Monday.”