Long lines, stampeding shoppers and huge hauls are a few common associations with the Friday after Thanksgiving—the busiest shopping day of the year for retailers, otherwise known as Black Friday. Though leaving the house at midnight to be among the first to steal some holiday deals can be exciting, so is staying in your pajamas with a cup of coffee and scoring sales from the comfort of your own couch—made possible by a phenomenon called Cyber Monday. Curious to know more about the internet’s sales holiday? Check out these Cyber Monday stats and facts.
What is Cyber Monday?
Now more than a decade old, Cyber Monday was created in response to Black Friday as online shopping became a staple for the holiday season. The National Retail Federation (NRF) coined the term Cyber Monday in 2005 as online sales in the days (and specifically Monday) after Thanksgiving were increasing exponentially. According to the NRF, online retailers were wanting in on the action that brick-and-mortar stores attracted via Black Friday; thus, Cyber Monday was born.
Here’s a closer look at some highlights of Cyber Monday history:
- 2005: The National Retail Federation sends out its initial press release announcing Cyber Monday.
- 2007: The Great Recession hits, but Cyber Monday prevails, continuing upward sales from 2007 ($730 million) to 2008 ($836 million).
- 2008: Amazon becomes the No. 1 retail site for Cyber Monday, beating out Walmart.
- 2010: Major retailers like Toys “R” Us, Sears and Kmart extend Cyber Monday to “Cyber Week,” offering deals throughout the week after Thanksgiving.
- 2010: Cyber Monday spending hits $1 billion for the first time.
- 2013-2015: Site-wide discounts become popular, as retailers like Target, Old Navy, ASOS and more offer anywhere from 15 to 50 percent off site-wide.
- 2017: Cyber Monday sales hit $6.59 billion with that number poised to increase in 2018.
Chew on these Cyber Monday stats
- Cyber Monday sales have grown from $484 million in 2005 to a record $6.59 billion in 2017 (Forbes)—making it the largest online shopping day in U.S. history to date.
- Mobile sales on Cyber Monday 2017 hit $2 billion in a 24-hour period for the first time (CNBC).
- Mobile Cyber Monday shopping set a new record in 2017, representing 4 percent of visits and 33.1 percent of revenue (Forbes).
- Eighty-one million people shopped Cyber Monday sales in 2017 (NRF).
- Last year, 71 percent of people said they planned to shop on Cyber Monday, compared to 69 percent who said they planned to shop on Black Friday (com).
- In the 18 to 34-year-old consumer group, as 88 percent planned to shop on Cyber Monday compared to 74 percent of 35 to 54-year-olds in 2017 (com).
- The most popular item to shop for on Cyber Monday? Clothes, as 22 percent of consumer seek deals for clothing (com).
- Despite clothes being the most sought-after for deals, TVs represented the biggest average discount of 21.1 percent (Forbes).
- Surprise, surprise. Amazon is the most popular Cyber Monday retailer, having captured 60 percent of Cyber Monday sales in 2017 (com).
So, what can we expect for Cyber Monday 2018?
Despite the heightened craze around online shopping, based on its annual survey, the National Retail Federation predicts that a lower number of people will shop during Cyber Monday this year—only 75 million compared to last year’s 81 million. The reason? Younger consumers, considered those under the age of 35, were more focused on the social and family traditional aspect of shopping in-store on the days prior to Cyber Monday.
Time will tell what this year’s Cyber Monday stats will reveal. In the meantime, happy shopping!
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