The 94th annual Macy's Thanksgiving Day Parade will be held virtually due to the COVID-19 pandemic, New York City Mayor Bill de Blasio announced on Monday.

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De Blasio said that a live parade will not be taking place this year, but that a re-imagined parade still be available to watch on television and online.

"[Macy's is] reinventing the event for this moment in history. And you will be able to feel the spirit and the joy of that day," de Blasio said.

Macy's will announce more details later today. The retailer announced in August that the Thanksgiving Day Parade would be redesigned, similar to the company's annual Fourth of July celebration that also takes place in New York City.

"Following our successful, safe and innovative production of Macy's 4th of July Fireworks, it is our intention to similarly re-imagine Macy's Thanksgiving Day Parade this November," Macy's website says.