E-commerce Black Friday sales are set to reach an all-time high of $10.2bn (£7.7bn), according to research by Atlas VPN.
This is an increase of 39.4% compared with the same day last year.
US e-commerce revenue is predicted to total $6.18bn on Thanksgiving day — the day before Black Friday, and the beginning of a weekend of deals and price cuts for many retailers. This figure is up 49.5% on the year before.
Many consumers have shifted from shopping in bricks-and-mortar stores to online shopping due to the coronavirus pandemic.
E-commerce companies are expected to earn around 39.7% more between Thanksgiving day and the following Monday — known as Cyber Monday — than they did on the same days last year, according to the research.
Cyber Monday is also expected to bring record sales for e-commerce businesses — adding up to $12.89bn, a 38.3% growth from last year.
The report highlighted that in previous years there “was a clear line between Black Friday and Cyber Monday, as Monday was dedicated to deals related to the internet, while Black Friday was full of special discounts in retail stores.”
However, this year the difference between the two days is predicted to be less pronounced due to the shift in consumer behaviour due to COVID-19.
The Saturday after Black Friday — known as “Small Business Saturday” in the US — encourages holiday shoppers to support small local bricks-and-mortar businesses. In response to the surge in online shopping many retailers have focused their services online so as to not miss out on this year’s profits.
This year, Saturday e-commerce sales are expected to jump by 35.6% compared to the same day in 2019 — totalling $4.67bn.
E-commerce earnings on Sunday are estimated to grow by 45.8% in 2020.
Banks have warned of an increased scam threat this Black Friday due to a rise in online shopping scams amid the coronavirus pandemic.
Rachel Welch, COO of Atlas VPN, said: “Watch out for too-good-to-be-true deals from unknown sellers, as cybercriminals will also expect to turn a profit during the holiday season, even though they are not selling anything, except maybe a bag full of disappointment.”
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