Cyber Monday Sales Crush Black Friday Sales
This may come as a surprise to some…Cyber Monday shopping outperformed Black Friday. According to comScore, sales on Cyber Monday 2014 were $2.03 billion dollars, outperforming Black Friday 2014 sales by 26%. And this year was not a one-time phenomenon. Cyber Monday last year saw approximately $1.73 billion dollars spent in the 24-hour period, which bested Black Friday 2013 by nearly 31%.
For online retailers, billions of dollars are at stake at this time of year. Are you prepared to capture your share of the $10billion dollars exchanged by consumers during the holiday season? Learning when and how to spend a marketing budget during this time of year can drastically impact your bottom line.
Interestingly, Cyber Mondays are not the only days that do well during the holiday online shopping season. Last year, the Tuesday following Cyber Monday ranked second behind Cyber Monday. (For more unlikely high-volume online shopping days, check back tomorrow when I post part two of this article.)
As you prepare to promote products and optimize your marketing spend during the online holiday season, it is helpful to study market results from previous years, plan promotional calendars and predict potential opportunity to increase this year’s revenue over last year. Advanced planning will allow your company to learn lessons from previous years, and by analyzing aggregate data, marketing teams may find insights into patterns that were previously unnoticed. To show that I do not just advocate for this type of research but that I also put it into practice, here are my predictions for the top 10 online shopping days during the upcoming 2014 holiday season: