5 Stocks to Win on Record Cyber Weekend Shopping
Zacks Investment Research | Nov 29, 2020 08:34PM ET
When shoppers were busy grabbing Black Friday deals, retailers had started preparing for Cyber Monday — the next big shopping event. In fact, Cyber Monday has hogged maximum consumer attention in the recent past encourage people to shop online ." Black Friday, the day after Thanksgiving, marks the start of the holiday shopping season. Most retailers offer promotions and discounts during this time.
“A solid rule of thumb is that Black Friday is a better time to buy newer, big-ticket items. It's also the best day to shop in stores, though you can also shop online. Cyber Monday is a better day to shop for tech deals and smaller gifts. You'll also see slightly better discounts online,” as quoted on CNBC .
Cyber Monday 2020 is expected to turn out the biggest digital sales day in history in the United States. Spending should be between $10.8 billion and $12.7 billion, indicating year-over-year growth of as quoted on CNBC .
h3 What Were at the Top of the Shopping List?/h3New consoles, phones, smart devices and TVs that are usual Black Friday purchases have now taken place online this year. Surprise Black Friday purchases like groceries, clothes and alcohol that would earlier were bought in-store are also being parked in online cart, according to Taylor Schreiner, a director at Adobe Digital Insights, as quoted on CNBC.
Toys and personal care products were among the winning categories of this year shopping, according to Adobe, MAT
The Zacks Rank #2 (Buy) company is the world’s largest manufacturer of toys. Consumers’ solid spending on toys should make the company a winner this year.
Sony (NYSE:SNE) Corporation SNE
Sony Corp (T:6758). could gain this weekend on deals for newly released PlayStation 5 gaming console and smart TV that are in huge demand. The stock has a Zacks Rank #3 (Hold).
Apple Inc (NASDAQ:AAPL). AAPL
Likewise, deals on AirPods, iPhone, iPad, MacBook and Apple Watch put the company in the spotlight. Some of the Apple deals are “Save up to $900 on iPhone 12 with qualifies activation and trade-in with AT&T and Verizon (NYSE:VZ) (up to $450)”, “Get up to $950 off iPhone 12 Pro Max or iPhone 12 Pro via 30 monthly bill credits when you join and trade in an eligible device” and “iPhone 12 and iPhone 12 Pro Save up to $900 with qualified activation and trade-in,” as quoted on Forbes .
Wayfair (NYSE:W) Inc. W
Consumers have been spending ontheir homes throughout the pandemic as the work-from-home trend led them to do so. So, a loyal Wayfair shopper will definitely target the Zacks Rank #2 online furniture store to avail solid discounts this season. Notably, the store's extended Black Friday sale features up to 80% off deals on living room seating, outdoor pieces, area rugs and décor.
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The Home Depot Inc (NYSE:HD). HD
The Zacks Rank #3 home improvement store has also joined the deal euphoria, having thrown a flurry of deals earlier this month that will run through to Dec 2. Deals are on for a range of products from bedding to kitchen essentials.
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