Cyber Monday is November 27, 2017, the first Monday after Thanksgiving. It's expected to be the biggest shopping day of the year. Adobe Digital Insights predicts that online shoppers will spend $6.6 billion, 16.5 percent more than in 2016. online, a 9.4 percent increase. It would replace Black Friday, which will only receive $5 billion in online sales.
Cyber Monday is so popular because 75 percent of shoppers dive in first thing Monday morning.
Twenty-five percent shop during lunch and 34 percent go online Monday night. Only 19 percent take advantage of Cyber Monday sales the rest of the week.
Nearly a third of shoppers begin Cyber Monday shopping on Sunday. That's becoming more and more popular. It used to be that shoppers needed the faster internet speeds from work computers. Now, personal laptops and mobile devices are as fast as work computers.
Cyber-Monday is starting earlier because most online retailers start their Cyber Monday deals earlier. In fact, top stores like Wal-mart, Target, and Amazon start Cyberweek sales on Thanksgiving Day itself. The best way to get in on their deals is to sign up for their email newsletters.
What Are the Sales Trends for Cyber Monday?
Cyber Monday is becoming more popular while Black Friday is becoming less so. Cyber Monday was christened by Shop.org in 2005. Each year since then, new records are set as more and more people enjoy the convenience of shopping online.
Cyber Monday sales have more than tripled since 2009.
Year Sales (in billions)
2016 $6.6 Stores offer discounts on mobile devices.
2015 $3.04
2014 $2.5
2013 $2.29 Sales rose 20%. Black Friday fell.
2012 $1.5 Mobile devices equal 12.9%. (FatWallet)
2011 $1.3 Sales rose 17%. (comScore)
2010 $1.038 First time more than $1 billion. (comScore)
2009 $0.887
What Makes Cyber Monday So Popular
Cyber Monday shoppers are very clear about why they like the day. More than 40 percent of time-strapped shoppers said the 24-hour convenience is their highest priority. Almost as many listed their desire to avoid the crowds on Black Friday as their primary reason for shopping online. Nearly a third of online shoppers said they like the ability to easily compare prices.
The strong results on Cyber Monday are because of the aggressive sales offered by retailers with an online presence. Nearly 90 percent of retailers offered Cyber Monday sales. Nearly half of the retailers offered coupons or a percent off deals (45 percent), while more than one-third had limited-time-only promotions. Fewer (15 percent) promoted a free gift-with-purchase.
More than half of retailers to increase their "free shipping" budget, while one-third of retailers offered free shipping even earlier than ever. These retailers are smart because 36percent of shoppers surveyed said they'd increase their online shopping only if shipping were free.
Only a few online shoppers said they would buy less, thanks to expensive shipping charges. Others didn't like that they weren't able to see or handle their purchases ahead of time.
Some customers didn't like having to wait for it to be shipped.
Growing Importance of Mobile Technology and Social Media
Shoppers are using social media more than ever. Nearly one-third said they would go to a company's Facebook page to get additional information about Cyber Monday sales. Twice as many would look at customer reviews on the company's website before buying any products or services.
Online retailers respond to shoppers' use of mobile technology and social media by promoting there. More than half of retailers made sure their website sales were optimized for mobile devices. Another 20percent optimize for tablet device apps. More than a third use QR codes in magazine and billboard ads.
Online retailers also maximized their use of social media. Nearly three-quarters said they'd promote sales on their Facebook pages while more than 40 percent promoted on Twitter.
Nearly half (40 percent) of tablet users compare prices, while 20 percent redeem coupons. Most important, nearly a third go ahead and buy online using their tablets. (Source: National Retail Federation Annual Survey)
Source: www.thebalance.com
Tags:
General