Cyber Monday the new Black Friday; record online sales amid COVID-19

In Wisconsin, Black Friday, and Small Business Saturday saw in-person sales down significantly in 2020, but there was a bit of good news for retailers hoping to get into the black on Cyber Monday.

The Monday after Thanksgiving weekend is one many spend filling up their online shopping carts.

"There is a pent up need for people, I think, to want to get back to normalcy, and for some people, holiday shopping is that normalcy," said Jim Temmer, president and CEO of the Wisconsin Better Business Bureau.

Traditionally, Thanksgiving weekend marks the peak of in-person holiday shopping, but as with all things in 2020, the coronavirus pandemic has led to change.

"There wasn’t too much of a Black Friday this year," said Temmer. "We know today Cyber Monday is big, and overall, we’re looking at a 30% increase in online sales for retailers during 2020.”

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With retailers doing less for consumer holidays like Black Friday and Small Business Saturday, they’re instead putting their weight behind Cyber Monday.

“I can tell you it is much much lower," said Temmer. "Some anecdotal information we have, but also talking to business owners. When Cyber Monday is over, this will probably be the biggest one-day sales event in history.” 

Already – business experts are predicting historic online sales rates.

"Business owners willing to do whatever they can to survive," said Temmer. "If it’s go online, if it’s carry something out to your car, if it’s deliver right to your house, they know they have to meet the consumer where they are at.” 

Until the last online payment has been processed, exact totals for 2020 won't be known, but if you sell online, odds are business is good.