Top 4 Takeaways from the Biggest Shopping Day in US History
Once again we are seeing record breaking sales on Cyber Monday. Ecommerce continues to grow at a rapid rate as shoppers capitalized on the best Cyber Monday deals this year from the luxury of their homes. It is safe to say it does not look like online shopping will be slowing down any time soon. As Adobe predicts that Cyber Monday will hit a record-breaking $6.59 billion in US online sales this year, we assess what this new trend means for marketers.
- Optimizing your site for mobile is more important now than ever
Of the projected $6.59B in sales, an impressive $1.59B of those sales will be made via smartphones. This is a 39.2 percent increase over 2016! Mobile transactions and conversions overall also increased by 12 percent over 2016.
“Shopping and buying on smartphones is becoming the new norm and can be attributed to continued optimizations in the retail experience on mobile devices and platforms,” said Mickey Mericle, Vice President, Marketing and Customer Insights at Adobe.
Perhaps this increase in mobile is related to the availability of retail apps for most big box retailers. Apps seem to provide a simpler buying process on mobile.
- If you build it, they will come
Overall website traffic soared this year with an 11.9 percent increase for the day. It’s no secret that consumers enjoy the convenience of shopping from the comfort of their own home, but the numbers also back it up. This year there were 81 million active online shoppers on Cyber Monday, compared to 77 million in-store shoppers on Black Friday.
- If you haven’t learned how to market to millennials by now, you’re missing out
Say all you want about millennials’ whiny attitudes and laziness but when it comes to ecommerce, they are a retailer’s best friend. 75 percent were expected to shop via their smartphones on Monday, which is most likely another reason for the dramatic growth on mobile this year. So embrace the millennial mindset and start marketing towards them!
- Cyber Monday. Cyber WEEK.
Retailers are cashing in on the shopping day’s successful history by extending their sales past the traditional “Cyber Monday.” Big box retailers such as Walmart and Target have offered their Cyber Monday sales on the days following.
Perhaps Cyber Monday is so successful because it is the last of the November holiday shopping days. Perhaps consumers simply wait for the best possible deal or hesitate when pressing the buy button on the shopping days prior. Whatever the cause is, it’s no surprise that retail marketers should hold the holiday as a great priority in their Q4 strategy and plan.
Don’t miss out on the shopping marathon in 2018. BKV can help kick your Q4 strategy into high gear.Contact us today!