What Is Cyber Monday?
Cyber Monday (also known as Blue Monday) is an e-commerce term referred to as the Monday following the U.S. Thanksgiving weekend. As brick-and-mortar stores do with Black Friday, online retailers offer special promotions, sales, and discounts on this day. Meanwhile, traditional retailers offer exclusive, website-only deals. The result has been a merging of Black Friday and Cyber Monday into a combination in-store and online shopping experience that has blurred the distinction between the two holidays.
Why Is Cyber Monday So Popular?
According to Adobe Digital Insights, more than 40% of time-strapped shoppers said 24-hour convenience is their utmost priority. However, many of them listed their desire to avoid the crowds on Black Friday as their main reason for shopping online. Also, most people said they like the ability to compare prices easily.
The robust results on Cyber Monday are because of retailers’ aggressive sales with an online presence. And, almost 90% of retailers offered Cyber Monday sales. Forty-five percent of the retailers provided coupons or a percentage discount. At the same time, more than one-third had limited-time-only promotions. Fewer than 15% promoted a gift with purchase.
However, more than half of retailers offered to increase their “free shipping” online budget. In contrast, one-third of the retailers provided free shipping, and 36% of shoppers surveyed said they would increase their online shopping if the shipping were free.
A few online shoppers said they would purchase less due to expensive shipping charges. Others did not like that they were not able to see or handle their purchases ahead of time. Also, a few customers did not like having to wait for their products to be shipped.
How to Prepare Your E-commerce Store for Cyber Monday
- Optimize your website for mobile devices
Cyber Monday demonstrates a massive growth in mobile shopping. Ensuring your website is excellent and works seamlessly across all devices is key to grab a mobile sales share.
- Ensure you can handle the demand
Whether you are manufacturing your products, dropshipping, carrying your stock, working effectively with your business partners to prepare for the holiday sales spike, and avoiding selling faster than you wished to.
- Create suspense and buzz before the sale starts
Announcing your Cyber Monday sales and offers is one thing. But building suspense around your upcoming deals via email marketing campaigns, social media promotions, and attractive visuals is an entirely different matter. The momentum you manage to develop early on will increase your sales volume once the deals are released.
- Invest in paid search advertising
Cyber Monday has grown into a vast online shopping event. Customers deliberately delay their shopping until this day to benefit from hefty discounts. A significant piece of Cyber Monday sales is generated through paid search ads since the shoppers are searching to purchase rather than browse. One can do it by conducting thorough keyword research to look for keyword opportunities and attract the right customers.
- Have your distribution strategy clear
Email campaigns, social media ads, and keyword-optimized content are the apparent avenues for driving traffic to your online store. There is an array of other holiday sales marketing options that one should consider. However, distributing the irresistible Cyber Monday offers online across different Facebook groups, deal aggregators, subreddits, forums, and other websites. It is one of the low-hanging fruits that often gets overlooked. Although it could generate great results if done right.
How to Get the Best Cyber Monday Deals
You can find Retail sales on CyberMonday.com, which features a schedule of which retailers offer deals at what times in a “Deal of the Hour” promotion. However, you can find sales from more than 800 online retailers.
ComScore, which tracks online media, reports that more than half of the deals consist of free shipping. Retailers also offered various price discounts. Other offers included gifts with purchase.
Impact on Retail
Cyber Monday reflects the growth of internet retailing. By 2020, it is expected to reach $523 billion, growing almost 10% annually. However, the increasing power of mobile phones is driving that growth. And In 2017, people from 16 countries said that 60% of their “daily transactions” occurred in a digital form instead of a physical store.
The success of internet retailing spells doom for brick-and-mortar stores. In 2018, former J.C. Mike Ullman, Penney CEO, said that only 25% of America’s 1,200 shopping malls would survive over the next five years. However, those that do will serve the highest-earning 20%. Ullman said that only malls that can attract an Apple or Tesla store would survive.
Reference Source: oberlo.in
To know more, read here about different days celebrated.