To try and boost online sales in 2005, the National Retail Foundation created a concept now known as “Cyber Monday.” Black Friday may kick off the holiday gift season with the large in-store deals and promotions, but Cyber Monday has quickly become one of the busiest commerce days of the year in the United States.
And 2019 was a record-breaking year.
Consumers expect certain luxuries from brands. The availability of products online is now considered a standard rather than a luxury, with the expectation to be able to purchase a product from anywhere in the world, at any time, as long as we have a connection to the internet.
One of my favorite stories working with Alter Endeavors was when a client called in a panic asking when their website “closed” for the weekend. The year was 2014, so it’s not entirely a ridiculous thought (although the client and I now laugh about their momentary brain lapse). With e-commerce, you don’t need a storefront or an employee. Your site functions and sells product autonomously.
But back to Cyber Monday. Here are five stats from 2019 that I find truly incredible:
1. Americans spent $12 per minute.
That’s a lot of “Frozen 2” toys, which not too shockingly was one of the top 10 by volume of items sold.
2. $3B was spent via a mobile device.
Yes, that’s a “B.” Mobile devices represented approximately 1/3 of the total revenue sold. One step further, 65% of transactions occurred on a mobile device.
When we build a website for clients (especially E-Commerce), the mobile experience is something our team places a heavy emphasis on during our process. If your website utilizes E-Commerce, it is imperative that the site is optimized for mobile use.
3. 16.8% of sales were the result of an email marketing campaign
Email marketing is far outperforming social media marketing for online products when used during limited time periods. Social Media is still effective in regards to driving traffic to online pages, however, the average American checks their email 15 times a day. Putting it all together, during a one-day promotion, email marketing can be the fastest and most effective way to reach consumers.
4. Online sales for Small Businesses increased 32% from last year
E-Commerce isn’t just for the “big boxes” like Target and Best Buy. Small businesses saw a 32% increase from last year in sales on Cyber Monday via online purchasing. While retailers like Target and Best Buy mentioned before can offer big discounts to customers on Cyber Monday, there is also a trend to “shop local.” Having a strong digital marketing strategy around your brand’s E-Commerce experience can provide a large return, even for small businesses.
5. Global E-Commerce sales totaled $30B
The beauty of E-Commerce is that you’re not limited to a locale. There are integrations and features through WooCommerce (our E-Commerce solution of choice) that allow for calculating international sales taxes, currency exchange, as well as platforms such as PayPal and Apple Pay to make your E-Commerce experience as accommodating for the consumer as possible.
Cyber Monday may only be one day a year, but the results speak for themselves. As a society, we are transitioning towards a more “E-Commerce Driven” buying experience. While it’s not a Field of Dreams type situation (if you build it, they will come), having a coherent digital marketing strategy and a user-friendly E-Commerce experience on your site can help grow your business tremendously.