What You Need to Know About Cyber Monday Statistics

Cyber Monday, which began as the beginning of online shopping and eCommerce solutions, has since grown to become the most popular shopping day for eCommerce, even surpassing Black Friday in terms of digital sales. This article discusses the most recent Cyber Monday statistics, as well as recent consumer spending data and shopping preferences. Retailers will understand why omnichannel at this time is a smart idea. 

What is Cyber Monday?

Cyber Monday is the name of a sale that occurs on the Monday following Black Friday. In the past, Black Friday sales were held in physical stores, while Cyber Monday sales were held by internet retailers. As a result, the term “cyber” was coined. Cyber Monday will be held on November 29th in 2021.

Several previous data reveal that many businesses provide excellent discounts on Cyber Monday. The list of discounted items just changes. It’s more than probable that the product you’re looking for will be on sale on Cyber Monday, rather than Black Friday.

Cyber Monday Statistics On Shopping Habits

While PCs are still used by a modest majority of buyers, smartphone usage has gradually risen over time. They will generate more than $74 billion in sales by 2020. Smartphone customers, after all, have the option of purchasing not only from store websites but also through shopping applications. A good reason for retailers to start selling across omnichannel.

Meanwhile, shoppers keep looking for sales by preference.

• Clothing (50%) was the most popular purchase between September and Cyber Monday in 2020, followed by household goods (39%), toys (21%), laptops and tablets (20%), TVs (17%), and gaming consoles and video games (16%). (BlackFriday.com, 2020)
• Furthermore, 68% prefer to purchase online because it is more convenient, while 48% say the greater variety of items available online is the main reason. (PYMNTS, 2020)
• Interestingly, during the 2020 holiday season, 43% of US customers would prefer to pay $20 extra to assist a small business than save $20 by buying products from a major retailer. (UnionBank, 2020)

Cyber Monday Statistics On Revenue

US Cyber Monday 2020 Statistics

• Cyber Monday has been the largest eCommerce sales day of all time in 2020, with $10.8 billion in online purchases. (CNBC, 2020)
• The fact that traffic to brick-and-mortar businesses was down by 42.3% throughout Cyber Week in 2020 contributed to Cyber Monday’s strong sales. During Cyber Week, brick-and-mortar retail sales also fell by 23.9%. (Forbes, 2020)
• Furthermore, the last four hours of Cyber Monday generated 25% of the day’s income. (PracticalEcommerce, 2020)
• In 2020, the gross merchandise volume has grown by 74% over the previous year. Furthermore, the average order value grew by 17%. (BigCommerce, 2020)

Customer Spending

• From November through December 2020, customers spent $188.2 billion, a significant increase above the $142.8 billion spent in 2019. (Adobe, 2020)
• Furthermore, each customer spends an average of $312 on their purchases. (The Washington Post, 2020)

Cyber Monday statistics show that the number of customers shopping online in recent years is increasing, leading merchants to quickly adapt to the customer’s shopping habits. ConnectPOS is the indispensable choice in the next step for retailers. This highly useful software supports rapid management and prevents product loss. Any manager would feel safe to use it.

Cyber Monday Statistics On Customer Experience

In general, data on Cyber Monday states that COVID-19 has caused 91% of customers to change their shopping patterns (The Patriot Ledger, 2020).

• 47.4% of customers said they prefer to purchase online because they are afraid of contracting the coronavirus. (PYMNTS, 2020)
• Shoppers have chosen to buy items online in 58% of cases, while 50% have elected to shop less. (The Patriot Ledger, 2020)
• Furthermore, 50% more customers intend to use contactless pickups in 2020 than in 2020. (BlackFriday.com, 2021)

Apart from the lockdown, most customers were afraid of offline stores for fear of contracting the coronavirus. Because the discount deals and purchases are performed online, this cleared the door for Cyber Monday to gain even more traction.

And in the years to come, as this trend becomes more widespread, it is recommended for every shop owner to install a useful management application like ConnectPOS. It does not only provide online and physical stores but also designs a comfortable and secure customer experience with the aim of disease avoidance.

In short

Cyber Monday statistics report the big shift to digital shopping in 2020, also encourage retailers to digitize their stores with functional apps like ConnectPOS. So do not hesitate, contact us now to receive countless unexpected offers!