FedEx trucks are loaded for deliveries in Salt Lake City on Tuesday, Nov. 10, 2020. Ongoing and widespread COVID-19 restrictions are fueling an unprecedented volume of online shopping for the holiday season. | Jeffrey D. Allred, Deseret News
Rainbocorns, Cutetitos and consoles top must-have lists
SALT LAKE CITY — Rainbocorn and Cutetito may just sound like gibberish, but they’re actual names of new toys likely to lead the pack in the upcoming online holiday shopping season, one setting up to smash existing records.
For the uninitiated, Rainbocorns and Cutetitos are both lines of brightly colored plush creatures that come in mystery packaging, and are projected to be the No. 1 and No. 2 most popular toys for kids in the 2020 holiday season, according to a new report.
But the plushies will represent just a tiny slice of an expected crush of holiday spending with online retailers that Adobe Analytics is predicting could hit $190 million this year — outpacing 2019 levels by over 30% — and crushing records for Thanksgiving, Black Friday and Cyber Monday.
Single-day turbo boosts on the race to a record year could see $6 billion flowing to online retailers on Thanksgiving, over $10 billion on Black Friday and almost $13 billion on Cyber Monday.
Along the way, U.S. shoppers will drop around $2 billion every day between Nov. 1 and Dec. 31 except for the Thanksgiving break, Nov. 22 through Dec. 2. Instead, that span will see an average $3 billion in daily online spending.
The biggest online shopping day of the year, Cyber Monday, broke the $2 billion barrier back in 2012, Adobe notes for context.
While online shopping has been on a growth arc that graphs as a steep climb to the right — and it surpassed in-store holiday sales for the first time last …read more
Source:: Deseret News – Business News