Cyber Monday began in 2005 when the National Retail Federation created a digital counterpart to Black Friday. Its research highlighted that, for several years in a row, online purchases reached their peak on the first Monday after the famous United States (US) holiday.
Almost two decades later, it is now level pegging with Black Friday when it comes to retail activity. According to Adobe Analytics, which has been tracking seasonal retail traffic for over a decade, last year consumers spent around $10.7 billion on Cyber Monday.
There is no doubt that Cyber Monday is an ideal time for retailers to draw more people to their brands and products. So much so that, it is no longer a singular event, but an extension of the pre-Christmas shopping season (alongside Black Friday and the weeks leading up to it) that mark the busiest - and most critical - sales period in a retailer’s calendar. This is make-or-break for retailers, not just for their year, but potentially for their business.
The average shopper spends more than $300 on Cyber Monday alone. This means that it doesn’t matter if you’re a small business or a large retailer. The data reveals that sellers of all scales earned a lot on Cyber Monday.
But success here is not based on discounting alone. Low prices and targeted marketing may attract customers, but this is only half the battle. Retailers cannot - must not - neglect winning at both ends of the shopping journey. This means ensuring stock is plentiful and supply chains are fluid, right through to providing a delivery experience that will keep customers coming back long after the seasonal fanfare has passed.
While this may feel daunting, this guide sets out steps retailers can take to make a real difference.
Enjoy the read!
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