The four days between Thanksgiving and the Monday after, coined Cyber Monday, are some of the highest shopping days during the year. Especially for online retailers, it’s the perfect opportunity to promote some in-demand sales and discounts to draw customers in. For online shoppers, the deals found on Cyber Monday help them get off to a great start in their holiday shopping lists, with a whole month left to shop.
While Black Friday, the Friday after Thanksgiving, has often thought of the major shopping day, Cyber Monday is quickly overtaking the retail world in the number of shoppers and sales brought in. For a market that increasingly going online, Cyber Monday is a day to mark off on your calendar.
However you feel about online shopping, this retail holiday can’t be overlooked. Here we share some key insights in just how popular this online shopping day is for retailers operating both solely online and in coordination with brick-and-mortar stores.
Cyber Monday and the Economy
With so many people shopping online at one time, this day is significant for the online retail market that provides opportunities and jobs for people. Here we share some interesting statistics about just how big this shopping day has become.
In 2019, $9.4 billion in revenue was generated on Cyber Monday (Leftronic)
The amount of sales that come through on Cyber Monday is astonishing. In 2019, this day broke the online sales record by generating $9.4 billion. In one day. That’s a huge increase even from the previous year. In 2018, Cyber Monday sales were only $6 billion. While the industries and businesses involved in these sales vary, it’s clear that this day has become a time when online shoppers unite in finding great discounts and deals through eCommerce.
Cyber Monday sales increased 19.7% from 2018-2019 (CNBC)
This shopping holiday is significant in viewing the overall growth of online shopping. In 2019, with the amount of sales generated, retailers saw an increase of almost 20% since the previous year.
Who shops on Cyber Monday?
With such impressive numbers for revenue generated on this day, it’d be fair to guess that most people would join in the fun of the day. Here, we break down just who participates in adding items to their cart on this day.
Shoppers of all generations join in Cyber Monday deals, but it is most popular for 25 to 34 year olds
When it comes to the deals you can find online for Cyber Monday, consumers of every age want to get in on the savings. While percentage of participants was fairly consistent for each generation, millennials tended to take the lead in terms of the number of shoppers, at 18% of all shoppers being between the ages of 25-34. Those ages 35-44 accounted for 15% of all shoppers, 45-55-year-olds making up 14% of the shopping population and 55-64-year-olds making up 14%.
Cyber Monday is more popular among men with 56% of online shoppers
While the stereotype for the avid shopper often is attributed to women, men have their fair share of purchases as well. For Cyber Monday, men accounted for 56% of shoppers, which means only 44% of shoppers were women. The products purchased and sites visited may differ, but both genders got in on the online deals found on Cyber Monday.
122 million shoppers joined in on Cyber Monday
Not only does Cyber Monday bring in impressive sales for retailers, it also brings a lot of shoppers to the internet as well. In 2019, 122 million people chose to shop online on the Monday after Thanksgiving. On Black Friday, only 121 million shoppers participated. While the difference is small, retailers can expect their online presence to be as important if not more so than their in-store opportunities.
The average Cyber Monday purchase is $138
Where you live may just affect the number of purchases to make on Cyber Monday. For example, Denver, Colorado was the top spending city in 2018 for Cyber Monday, bringing in an average order value of $163. Shortly after Dever is San Francisco, California and New York City. The national average for online sales on Cyber Monday was $138 per order in 2018.
89% of retailers offer some type of Cyber Monday sales
Most retailers see the value in the growing retail strength of Cyber Monday. In fact, almost 90% of retailers offer some kind of promotion on this day. While the percentages vary based on business and product line, offering any kind of discount is the norm for most retailers looking to participate in the online craze of Cyber Monday.
How much do people spend on Cyber Monday?
Like the day after Thanksgiving, this retail celebration is known for bringing in exclusive discounts offered for just a limited time. While many shoppers intend to stick to strict budgets and see overall savings, many often exceed what they plan on spending online. Here we share some statistics about the spending habits of those who participate in Cyber Monday.
Consumers spend an average of $431 on Cyber Monday
When online shoppers plan to shop, they make themselves known. On average, consumers spent $431 in 2019 on Cyber Monday finds. That amount is an increased from the $415 spent on average per consumer in 2018. While the amount spent has a variety of factors including economic status and the items they plan on purchasing, Cyber Monday sales are becoming nothing short of significant.
33% of retailers provide time limited deals during Cyber Monday
Depending on the industry and the products, retailers share different opportunities for consumers to save money. While most retailers offer some sort of discount, not all provide a straight coupon or percentage discount. 45% of retailers share deals to save a certain percentage off their order. 33% of retailers provide a promotion that’s only available for a limited time, sometimes based on just a few hours.
Less than 15% of online retailers shared the opportunity to get a free gift when they make a purchase during the Cyber Monday shopping timeline. Knowing that shipping costs are often one of the key concerns for online shoppers, 33% of retailers share the chance to get early free shipping on their online order. Through each of these strategies, online retailers focus on meeting customer needs and creating more opportunities for people to shop with them on Cyber Monday.
Clothing is the most popular product on Cyber Monday making up 41% of all purchases
While Black Friday is often known most for finding great deals on technology and large purchases, Cyber Monday has a variety of top products that consumers seek out. Clothing was the most popular category of items purchased during Cyber Week, accounting for 41% of purchases. Small appliances and home good products took second place with 38% with technology products like tablets or TVs at 32%. No matter what you’re on the lookout for to get some savings, chances are you’ll be able to find a discount on Cyber Monday.
How do people shop online during Cyber Monday?
The obvious answer, online, obviously. But the device on which shoppers make those purchases over the internet vary greatly. Here we share some interesting insights about how people reach those online sales, wherever and whenever they shop.
$3 billion in sales were made using smartphones during Cyber Monday
On Cyber Monday in 2019, smartphones brought in a significant amount of revenue. In fact, $3 billion retailers earned in sales were attributed to a smartphone device. Having the ability to shop from wherever you are, whenever you have the time, is a big draw for online shoppers. With websites and payment methods that are mobile-friendly, allowing customers to order on their own schedule shows promise for online retailers.
53% of consumers look to social networks for shopping
When it comes to a brand’s presence in a competitive marketplace, social media matters. In 2018, 53% of consumers in the United States turned to their social networks to find great deals and savings for the deal-rich shopping weekend. They found discounts and deals offered where they look most.
About 50% of sales made on Cyber Monday were mobile
With websites becoming more designed to meet the mobile user, Cyber Monday sales followed suit. In 2019, half of the purchases made online were through someone using a smartphone or tablet. With the overall trends of online shopping, that percentage is expected to grow.
Cyber Monday is a big deal for Amazon driving over $180 million in sales
As an already strong eCommerce platform, retail dates like Cyber Monday are monumental for Amazon. Cyber Monday was reported as Amazon’s biggest shopping day ever. In 2018, their sales from Thanksgiving till Cyber Monday was over $180 million. That’s a lot of cart checkouts. This record for most sales was previously attributed to their Prime Day, which is an opportunity to receive extra discounts and deals across industries.
29% of shoppers said Amazon has the best deals
While Amazon is already known for a top online shopping platform, that’s especially the case for the kickoff to the holiday shopping season. 29% of consumers thought that Amazon would have the best deals available for savings and discounts for what they were looking for. Comparatively, 25% of people said that the retail giant Walmart had the best opportunities for saving money during this same timeframe.
Desktop shopper have higher average order value ($127) than mobile shoppers ($97)
While mobile shopping may be increasing, desktop online shopping still is at the top in terms of economic impact. In 2019, the gross merchandise volume (GMV) for desktop was the highest for desktop at 48%. Mobile orders followed with a 45% GMV. In terms of average orders based on the device used, desktop once again brings in the most sales. The average order for desktop orders was about $127 while orders made through mobile devices was just around $97.
66% of consumers compared prices over the Thanksgiving weekend using a mobile device
While the kickoff to the holiday shopping season can often come with impulse buying and snap decisions about whether to make that new purchase or not given the short amount of time it’s available, people still do their research. And often, the browsing of reviews and research is done through the convenience of a mobile device. In 2018, 66% of consumers compared prices and products during the Thanksgiving weekend sales using a mobile device like a smartphone or tablet.
Buyer behavior and Cyber Monday
Consumers tend to have a different mindset when they approach Cyber Monday as opposed to other days of the year. Here we share some interesting statistics about how shoppers approach this retail holiday.
18% of shoppers merge their shopping to complete between Black Friday and Cyber Monday
With a long list of things to do, parties to attend and family to see, holiday shopping can often be another stress added into the season. While it certainly doesn’t need to be, many people find combining their shopping into this four-day weekend is beneficial. Google estimates that 18% of shoppers consolidated their shopping to-dos to mainly in the deals and discounts from Black Friday and Cyber Monday.
11:25 a.m. is the time when sales tend to peak on Cyber Monday
This time is convenient for both early birds and night owls. When people are on their lunch break or remember to make that purchase they’ve been eyeing for days, midday is when sales peak. Which also means it’s not surprising that the most website traffic for retail comes when people are at work during the day.
Late night shoppers boost sales on Cyber Monday to the tune of $2.9 billion
While sales on Cyber Monday can occur throughout the day and beyond, the late night shopping sprees tend to be especially significant. In 2019, sales soared $2.9 billion from the four hour window of 10 p.m. to 2 a.m. With these sales, the opportunity for impressive sales isn’t over until the shoppers say it is.
Consumers do 42% of their holiday shopping during this weekend
Through discounts and deals abounding across industries, it’s no wonder shoppers enjoy crossing things off their list during this savings-packed weekend. Google found that by the end of the weekend, people have completed 42% of their holiday shopping. That means they’re ahead, with a month left to spare to get those last-minute items.
55% of consumers are looking forward to shopping on Cyber Monday
With the abundance of deals available on Cyber Monday, it can certainly be something to look forward to throughout the year. In fact, 55% of Americans said that they were looking forward to shopping online to kickstart the holiday season. That’s a contrast from the typical thought of big shopping day of Black Friday, which only 44% of Americans said they were looking forward to participating in.
Electronics are one of the most popular purchases on Cyber Monday
Like Black Friday, Cyber Monday often features impressive deals on electronics and big purchases like TVs, monitors, appliances and much more. Some of the top items purchased during Cyber Monday include Chromcasts, Rokus, iPads, Echo Dots and others. Camera equipment and video games were also common purchases made during this online shopping day.
The trend of online shopping is growing
As is evident with days like Cyber Monday, going online to shop has become a common practice for many consumers today. Here are some insights about how people are transitioning to eCommerce platforms at alarming rates.
50% of consumers said that they prefer to shop online rather than going in-store
While those who prefer to shop online vary based on demographics, it is a practice people overall are becoming more and more comfortable with. When given the choice between shopping in-store or online, half of people would want to stick to their laptop or smartphone and order online. Comparatively, 36% of people preferred to visit a store in-person to shop.
40% of online shoppers want to avoid crowds
Among the many great benefits of online shopping, Cyber Monday offers the chance to get great deals while avoiding crowds commonly found on the Friday after Thanksgiving, or even Thanksgiving day. This was the reason 40% of online shoppers chose the digital platform to get ahead on their holiday shopping. Additionally having time to research and compare prices was also appealing. 33% of online shoppers enjoyed the ability to thoughtful compare prices and products in the comfort of their own home.
With the abundance of deals and discounts available on Cyber Monday, and the entire holiday shopping weekend, it’s easy to save money while shopping online. While Black Friday brings in crowds of people for in-store excitement, Cyber Monday brings in its own kind of fun with discounts and deals across industries. Stay in the comfort of your own home while still getting access to the huge savings on what you need for the holiday season by joining in on Cyber Monday.