Although Cyber Monday isn’t (technically) over yet, it is already looking to be a record-breaking shopping day. U.S. shoppers are expected to spend up to $11.6 billion on Cyber Monday as they take advantage of discounts on various products, from toys to appliances.
Here are some of our observations:
U.S. shoppers are expected to spend up to $11.6 billion on Cyber Monday
According to a report, people in the US may spend up to $11.6 billion on Cyber Monday- making it the biggest online shopping day of the year. The attraction? Massive discounts on products ranging from pajamas to AirPods driving shoppers to purchase items even with rising inflation rates.
This is an increase of up to 8.5% from a year earlier, as inflation-weary consumers take advantage of discounts.
Adobe Analytics, which measures e-commerce by analyzing website transactions, has access to data covering purchases at 85% of the top 100 internet retailers in the US. The analysis predicts a staggering increase of 8.5%, showing that shoppers are taking advantage of discounts despite rising inflation rates.
Major retailers are offering deep discounts on products ranging from toys to appliances.
Major retailers such as Target and Amazon offer deep discounts on products ranging from toys to appliances. For example, Amazon offers around 60% off on high-end watches and accessories, while Walmart offers hundreds of dollars in discounts on laptops and televisions. And Walmart is practically giving away this Xbox mini-fridge:
Shoppers can also expect discounts on computers, with prices dropping as much as 27%
Additionally, shoppers can also expect computer discounts, with prices dropping as much as 27%. Almost all other categories are offering double-digit discounts.
Black Friday sales were record-breaking this year, with shoppers spending up to $9.12 billion online.
If Black Friday is anything to go by, Cyber Monday should be a record-breaking success. This year shoppers spent up to $9.12 billion online on Black Friday despite bad weather conditions that kept many shoppers away from the stores.
Brick-and-mortar stores saw thinner crowds than usual due to bad weather conditions.
Mother Nature wasn’t kind to the brick-and-mortar stores this year, as sporadic rain meant thinner crowds than usual. Despite this, online sales were still record-breaking.
What does this mean for business owners?
With seasonal sales in full swing, now is the time to start thinking about leveraging holiday shopping trends. You can take advantage of this busy period by offering competitive deals and enticing customers with special offers. Investing in marketing campaigns targeted at potential buyers and ensuring your eCommerce platform can handle increased traffic will give you a better chance of achieving success.
Cyber Monday is only one day, so you must be prepared for the online shopping boom to have a successful holiday season. With the proper game plan, you can ensure that this year will bring in more profits than any previous holiday season.
BlakSheep Creative is here to help you make the most of Cyber Monday and take advantage of holiday spending trends. Our eCommerce platform can handle high traffic volumes, and our marketing campaigns are designed to reach potential buyers. With our help, you can get a piece of the $11.6 billion pie!