Since 2005, the first Monday after Black Friday has become known as Cyber Monday - the busiest online shopping day of the year. Between 2005 and now, online sales have steadily increased on average. Data has shown that the majority of Cyber Monday sales have come from online shoppers who shop from their work place, but regardless of their location, they're shopping online to take advantage of extensive Cyber Monday deals. They are buying gifts, avoiding traffic and saving gas!
As the term was specifically designed to be a marketing tool, many retailers take advantage of Cyber Monday by using their websites as a way to promote sales early in the season. Advantages of advertising Cyber Monday specials include many ways to entice potential buyers to purchase your products,.. including:
savings and substantial discounts on products and services.
free shipping for products sold on an e-commerce website.
email alerts for shoppers who have signed up for email newsletters. These newsletters will inform online shoppers of inventory changes, new products and allow local buyers coupon downloads that can be printed out and redeemed once in the store.
Apps that download into mobile phones informing shoppers of hot deals and the exact location of store location.
incentives and savings options for first-time customers.
comparison shopping for shoppers who like to compare brand names before they buy.
Mobile smartphones make up a small but growing percentage of online holiday sales. As more consumers have smartphones with Internet access, shopping has never been easier. Advanced smart phone apps know when a local shopper is close to the physical location of a retail store, detecting the shopper when logged on the internet from GPS global tracking. The shopper can then access information for the physical address, available parking, business hours and driving directions. While in the store, in-store comparison shopping has become even easier. Many retailers have apps that allow consumers to look up products and actually compare to other similar brands while they are in the store. This keeps the buyer in the store without leaving to make a purchase from competitors. Enabling a buyer to make the purchase immediatly with their phone helps the buyer to decide if they are getting the best deal possible without driving across town.
Offering comparison shopping may seem like a conflict of interest, but if done accurately, it only serves to inform the buyer of the best possible deal, keeping the buyer in the store before leaving for the competitors.
In-store coupons have become very popular, and in this case, special coupon codes allow the discounts to be credited to in-store buyers only, offering the coupon on the spot. This happens when a smartphone app alerts the consumer to special deals while they are walking through the store, informing them of the product name and isle number that the product is located at. This allows an "e-coupon" to be "clipped" without the need to print out the actual coupon for redemption.
If you're a retail owner and want to take full advantage of Cyber Monday, then a website is mandatory! A website, along with a smart phone App that inform your potential buyers of your holiday specials when they are 'out and about' puts you at a big advantage over others that don't. It also puts you on a level playing field with your 'already established' online competitors.
Online shoppers who take advantage of Cyber Monday are very clear about what they like about that day. A large percentage of time-strapped shoppers have stated that the 24-hour convenience is their highest priority. Many also list their desire to avoid the crowds on Black Friday as their primary reason for shopping online. Nearly a third of online shoppers said they like the ability to easily compare prices.
In 2008, Black Friday turned chaotic and deadly, as shoppers scrambled for holiday bargains. A Wal-Mart worker on Long Island, N.Y. died after being trampled by customers who broke through the doors early Friday, and other workers were trampled as they tried to rescue the man. Four other people, including a pregnant woman, were taken to area hospitals. As a result, the following Monday (Cyber Monday) turned out record sales as online buyers were convinced that staying in their homes and shopping online would be more conveinent and safer. This may seem unrealistic, but as more violence has happened, along with fluctuating gas prices, the reason why some shoppers like 24hr shopping online has become more apparent.
In past years, online retailers have successfully lured shoppers to Cyber Monday by promoting their sales even earlier. More than half started their promotions by Halloween. The Halloween of 2011 was one of the most successfull Halloweens yet, and the sales seem to be increasing every year since. Nontheless, nearly 40% of all businesses that usually advertise holiday specials started their Cyber Monday efforts in mid-November.
Online shoppers usually don't worry about expensive shipping charges, or not being able to see or handle their purchase ahead of time. Furthermore, they don't worry too much about having to wait for it to be shipped. The main reason for this is that online shoppers anticipate the fact that they are being offered the type of incentives that they would not otherwise expect throughout the year.
In 2010, comScore reported the very first $1 billion online shopping day, a whopping increase of 16 percent compared to 2009. It was later reported that "Cyber Week" witnessed US consumers spending over $6 billion online from November 28 to December 2. The holiday shopping season is important for the economy because 19% of retail sales occur between Black Friday and Christmas. For some retailers, such as jewelers, it can be nearly 40% of their annual revenue.
If you're a business owner, taking advantage of a website is a cheap and very effective way to advertise. Getting started is easier than you think, and calling GothEagle is your first step. Call us and let us know what you want and we'll give you a solution that will meet your requirements and deadlines. Don't be afraid to start, take the first step and call us.
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