Cyber Monday is now the largest online spending day in the U.S. and other countries as well. If you’re still not sure why you should be part of this day, here are some facts that will surprise you:
- Cyber Monday sales have increased by $100 million each year since 2005, according to estimates by the International Business Times.
- The 5 best selling products according to Adobe for this day are: Nintendo Switch, Chromecast, Roku, Hatchimals & Colleggtibles, and Amazon Echo. According to Shopify, the most important items to buy are clothing, accessories and household items (in that order).
- In 2017, according to Adobe, consumers purchased $6.59 billion online on cyber Monday, compared to $2.98 billion in 2015 and $2.65 billion in 2014.
- Smartphone purchases also broke a record with $2 billion in sales. Smartphone purchases are expected to increase each year.
- Last year, Shopify tracked that there are about $280,000 in sales that are made every minute.
- According to Shopify, relative to other sources, email arrived with the highest conversion rate, at 4.29%, followed by second place search.
- At the peak of the weekend sales event, Shopify merchants were processing $1,138,574 per minute in sales compared to a peak of $555,716 per minute in 2016.
- During the Black Friday Cyber Monday weekend of November 24-26, Shopify merchants collectively generated more than $1 billion in sales.
- Last year, the biggest price falls toward Cyber Monday were for toys with an average discount of 18.8 percent, followed by televisions with 21.1 percent and computers with 14.7 percent.
- According to the National Federation of Retailers, 90% of online shoppers surveyed say low prices are most important to them. 86% say the next step is free shipping. Be sure to consider this in your strategies for this day.
Prepare your store and make sure you are part of this day! We can help you create a stunning online store. Contact us!