Oh I know…you’ve been reading all of the press about how Cyber Monday was the biggest online shopping day ever this year. So how can we be suggesting it’s losing momentum? Well, according to new data analyzed by eMarketer, that appears to be exactly the case.
So which days are gaining ground on Cyber Monday?
Read on to find out what day or days are gaining on Cyber Monday…
Cyber Monday this year saw sales balloon 12% to an impresive $3.45 billion – a new record in one day online sales, according to tracking done by Adobe. But what has largely gone unnoticed in all of the articles decrying this amazing milestone, is that online sales are growing on other days, as well – and in some cases, at a faster pace than Cyber Monday.
Adobe tracked an impressive 23 billion visits to online retail sites. This $3.45 billion result is the largest one day sales record for online sales – and the largest one day figure since Adobe began tracking them in 2012. But what has been under-reported is that this rate was only 3% higher than online sales on Black Friday this year!
Another Big Day for Online Sales – Black Friday!
Yes, that’s right…Black Friday, the day we’re all supposed to be clashing with each other over the best deals in brick-and-mortar retail stores is also a huge day for online sales. Ecommerce sales have been growing all year…and on some days they are growing faster than on Cyber Monday.
In fact, since 2012, online sales have more than doubled on Thanksgiving day and on Black Friday. This growth is even greater than the pace of growth on Cyber Monday over the same period of time.
Deep Discount Days are Now Deep Discount Weeks
The report from eMarketer also noted that deep discount days like Black Friday are getting extended as major retailers try to scoop each other by releasing the discounts earlier and earlier. That was certainly the case this year as Wal-Mar, Amazon, Best Buy, and Target – as well as others – released their Black Friday pricing earlier than in years past.
Dealers say customers are demanding deals be released sooner. Wal-Mart did a survey and fully three out of four Wal-Mart shoppers said they want Black Friday online deals released earlier. As a result, in the days leading up to Cyber Monday there were more than 10 days this year where online sales exceeded $1 billion. Last year, only Black Friday and Cyber Monday exceeded that level of sales.
Nipping at Cyber Monday’s Heels – Black Friday
Online sales on Black Friday this year were up an impressive 22%. As yet another indicator of the waning power of Cyber Monday, Black Friday ecommerce sales actually exceeded the sales booked on Cyber Monday 2015. And, as we said, Black Friday ecommerce sales were only 3% below Cyber Monday 2016.
Some analysts are worried that extending the normally heavy discount days will depress industry margins for the season. And with Cyber Monday losing it’s draw, this could be happening already. Several retailers are already recharacterizing Cyber Monday. Target and Wal-Mart are already calling it “Cyber Week;” Amazon is now referring to it as “Cyber Monday Deals Week.”