The biggest online shopping day of the year once again broke records in 2017. Cyber Monday saw retailers rake in sales of $6.59 billion – over a billion more than what was spent on the famous shopping day in 2016 – and signalled where digital stores should be focussing their efforts to increase sales over the next 12 months.
According to Adobe data, Cyber Monday 2017 was projected to see a substantial increase of 16.8% when compared with the previous year. It also significantly surpassed sales for Black Friday and Thanksgiving Day, marking Cyber Monday as one of the key dates for retailers to add to their calendar.
Key takeaways from the Cyber Monday figures:
- Mobile continues to grow – Mobile has set a new record when it comes to retail site traffic, an aspect that every ecommerce agency needs to be thinking about. In total, mobile devices represented over 47% of Cyber Monday traffic, edging closer to taking over non-mobile devices.
Smartphones in particular are driving traffic growth, driven by millennials that want to shop when it’s convenient to them.
- Mobile transactions gaining confidence – It’s not just traffic that mobile devices are taking over either. As consumers gain confidence and businesses take steps to boost security, more shoppers are making transactions from smartphones, tablets, and other mobile devices. Compared to Cyber Monday in 2016, the research shows that mobile transactions closed at a 12% higher rate, signalling the need for retailers to make them as effortless as purchasing through other means.
- Shopping surge in the late hours – There was an expected surge of late night shoppers on Cyber Monday from 8pm onwards, with conversion rates reaching their peak between 11pm and midnight. For an ecommerce agency it demonstrates a need to be accessible around the clock and for marketing efforts to reflect this. For example, if you have a PPC budget that regularly runs out before the evening, it may be time to reassess your approach.
- Small retailers seize opportunity – There’s good news for small retailers when it comes to the mobile market. Small retailers saw 30% higher conversion rates on smartphones than large retailers and as a fast growing channel, it’s a significant opportunity to gain a share of the highly competitive market. The figures prove that with an effective, mobile first strategy, small retailers can compete with their larger counterparts even at a time of the year when consumers are spoilt for choice and have numerous promotions available to choose from.
- Marketing is essential – Search drove over 40% of Cyber Monday sales, with 22.9% coming from paid search, which showed strong growth of over 8% when compared to last year. Email also accounted for almost a quarter of traffic. The statistics demonstrate why it’s essential for an ecommerce agency to effectively use marketing to drive traffic to their site all year round.
With these statistics in mind, you can ensure that your marketing and customer experience continues to deliver through 2018.