Cyber Monday statistics from the last few years have been good for retailers as well as consumers. This means the upcoming Cyber Monday deals will likely be better than ever, and it also means more consumers will be competing to buy up the limited supplies of goods available on the Monday after Thanksgiving.
What is Cyber Monday?
The name “Cyber Monday” was created by Shop.org in 2005 to connote the Monday after Black Friday and highlight the various sales available online on the first business day after the big brick-and-mortar consumer rush begins. Since then, Cyber Monday has become a household holiday. As more people discover the deep discounts available on Cyber Monday, the shopping holiday is becoming more popular. Also, this shopping holiday used to be particularly popular among younger consumers, but recent research indicates older shoppers are joining in more and more.
Cyber Monday Controversy
Online sales have been happening on the Monday after Black Friday for the better part of a decade, but originally, these were more about making up for lost revenues and moving unpopular products on sale for Black Friday. For years, journalists noted that Cyber Monday wasn’t even the biggest day for online sales in the year — it typically fell in or around the top 10, but the Monday closest to the middle of December had been the biggest day for online sales. That was until two years ago, when the mass market seemed to catch on as online buying continued to gain popularity.
This year, Cyber Monday is anticipated to be the biggest day for online sales in U.S. history, as it was last year.
Cyber Monday Statistics: How Retailers Fared
- Cyber Monday has grown in popularity year-over-year in recent history.
- According to ComScore, Cyber Monday sales increased 16% in 2010 from 2009, passing $1 billion for the first time ever.
- Then, in 2011, Cyber Monday sales increased a whopping 22% above that, topping 1.25 billion.
- Consumers spent an average of 2.6% more in 2001 than they did in 2010, with the average online order’s price rising from $193.24 to $198.26, according to IBM.
Cyber Monday Statistics: How Consumers Fared
- According to PriceGrabber.com, some 39% of people shopped Cyber Monday last year, up 37% from the year before.
- Free shipping has become a staple of Cyber Monday, and 96% of people shopping Cyber Monday deals now list this as a reason for participating according to Ebates.com
- Last year, major sales on clothing made headlines, including those at the Gap (30%), Abercrombie and Fitch (40%), Levi’s (40%) and Kohls (20%).
- Amazon.com also ran a big sale on some of its Kindle devices, among others — the e-retail giant’s biggest sales day of the year is now Cyber Monday with over 14 million items sold in each of the last two years.
- Most consumers shop Cyber Monday deals in the morning; 33% shop between 5:00am and 9:00am, according to PriceGrabber.
- Last year, many stores began running their online sales early, with JCPenney, Toys ‘R’ Us and Walmart all kicking off on Saturday or Sunday.
- According to Shop.org, 92% of online retailers offered deals over Thanksgiving weekend, with 80% linked to Cyber Monday.
TVs have historically been tough to get a great deal on, according to most sources for Cyber Monday statistics. The cheapest prices on those come right before the Super Bowl. Also, travel tends to be cheaper after Cyber Monday but during the first week of December. This year, lots of pundits are anticipating big discounts from Sprint on the popular Samsung Galaxy SIII cell phone (Android) starting on Black Friday and continuing at least through Cyber Monday.
What do you think are the most interesting Cyber Monday statistics? Do you shop on Cyber Monday? Share your tips below.