Online shopping and unprecedented discounts already have made Black Friday one for the record books this year as consumers have chosen to crack open their laptops and virtual wallets amid the worst global pandemic in more than a century.
Now Cyber Monday is on track to bring in a record $12.7 billion in online sales, according to Adobe Analytics, surpassing Black Friday's digital numbers as U.S. retailers reach the final leg of an extended start to the holiday selling season caused by the Covid-19 pandemic.
But Cyber Monday is looking a lot like Groundhog Day, according to analysts, investors, shoppers and retailers.
Traditionally, Cyber Monday has kicked off with people, fresh off a long weekend, scouring for discounts online at work and driving another big day of promotions. But this Cyber Monday is looking more like Groundhog Day following nearly two months of offers from retailers looking to recover sales lost due to mall and store closures.
But with online sales projected to increase by 35% from the same day last year, according to Adobe data, the question is: What more do both consumers and retailers expect to gain from yet another day of 30%, 40% and even 50% off, with free shipping?