Yes, it was a bright day this week for many dot coms as e-commerce retailers achieved a new milestone. Cyber Monday 2016 was the best online shopping day in the U.S. ever with $3.54 billion in sales reported the following morning. Mobile accounted for 56% of online shopping visits, another chart topper.
This figure represents a 12% increase over last year’s online sales according to data provided by Adobe Digital Insights which evaluated sales revenues from 80% of the top 100 U.S. online retailers. Information from the National Retail Federation supports this assessment. The NRF reports that 108.5 million people shopped online compared to 99 million who shopped in-store on Cyber Monday, traditionally one of the biggest holiday shopping days in the U.S. But Black Friday wasn’t too shabby either as, for the first time, a $1 billion+ in mobile e-commerce sales was realized.
Part of the success is due to traditional large brick ‘n mortar retailers, including Target and Walmart, figuring out their e-commerce sales strategies. Their sales grew 2-1/2 times the rate of smaller retailers as they were able to offer deeper discounts and larger inventories. (As has been the tradition over the past few years, the categories most discounted were toys and electronics.) Plus, the big box retailers leveraged a combination of marketing channels including social media, mobile, and email to deliver messaging directly to consumers. These efforts realized revenues that were 30% higher than business that aren’t optimizing those strategies.
Other reasons cited for the Cyber Monday success, according to Mickey Mericle, VP of Adobe Customer Insights, was the pent up demand by U.S. consumers who were preoccupied with November’s election, retailer discounts that started later this holiday season than last year, and fewer shoppers in-store and more online.
Observations provided in advance of both Black Friday and Cyber Monday by infoUSA, the big data, analytics and marketing services provider, offered several noteworthy 2016 U.S. holiday season shopping predictions:
- 50% of holiday shoppers revealed they’d be skipping the crowds and shopping online this holiday season, as reported in a Deloitte survey
- 43% of shoppers purchased consumer electronics via their smartphone while looking at those products in-store last year, according to Social Annex
- 20% of holiday shoppers made a purchase after opening a retailer’s email on their mobile device, according to a UPS Pulse of the Online Shopper
- 70% of consumers learned of holiday promotions through email 64% from searching online 56% through online ads and 38% from social networks according to the Ipsos and Magnetic post-holiday survey completed in January 2016
- 9-10pm were the peak times for online holiday shopping last year, Big Data Labs stated
The calm shopping days might still be aways away for many of us — many hand is raised high! —but for many dot com businesses the times are quite bright this holiday shopping year.