Both Black Friday and Cyber Monday are key peak season events, which have gained popularity and have been consolidated year after year. For brands, they provide a unique opportunity to offer a period of promotions and deals to drive sales for our businesses just before the Christmas campaign.
Originally, Cyber Monday was born to offer discounts and deals on online-only purchases. However, in recent years, it has evolved and now goes beyond a simple sales day. Now, we find ourselves with a whole week of discounts.
Both dates have also generated a saturation of the market, where it is increasingly difficult to stand out from the competition. Has it happened to you that you no longer know which day is better to buy? Or which day will be the day when your favourite shop will offer the best promotions?
What is Cyber Monday?
Cyber Monday is an online shopping event that takes place on the Monday after Thanksgiving Day in the United States. Originally, it was created by small online shops looking to boost sales after Black Friday, which traditionally focused on physical shops. However, over time, Cyber Monday has grown and established itself as a global event.
Although it started as a trend in the United States, its impact has expanded internationally, with more countries participating and adapting their own versions of the event. Sales during this day are not only limited to technology products, but also cover all kinds of categories, from fashion to home, health and beauty products.
Relevant trends and facts about Cyber Monday
Exponential increase in online sales
The Cyber Monday figures never cease to amaze us. According to a report by Adobe Analytics, in 2023, Cyber Monday generated approximately $12.1 billion in sales in the US alone, representing a 5.8% increase compared to the previous year. This once again underlines the growing importance of online sales for the retail sector.
Mobile sales growth
Mobile commerce was one of the main catalysts for Cyber Monday sales growth. According to a Salesforce report, 45% of sales during Cyber Monday 2023 were made via mobile devices. This indicates that consumers increasingly prefer to use their smartphones to make quick purchases, especially during high-demand events.
This behaviour also implies a significant opportunity to differentiate ourselves from other players and to do so, we must optimise e-commerce platforms with mobile first in mind. To stand out, we must make the experience as fast, intuitive and secure as possible.
The impact of Artificial Intelligence and hyper-personalisation
Artificial intelligence (AI) and hyper-personalisation marketing techniques are transforming the way consumers experience and consume. Through certain analytics, brands can predict customer preferences and offer personalised discounts in real time.
For example, the use of product recommendations based on previous browsing behaviour or products added to the wishlist improves the likelihood of conversion.
The Effect of Cyber Monday on Holiday Shopping Readiness
Cyber Monday acts as a thermometer to gauge consumer trends for the holiday season. For many consumers, this day is a sort of test to see what deals are available before making larger purchase decisions. According to an NRF (National Retail Federation) study, more than 50% of shoppers during Cyber Monday 2023 were already thinking about their holiday shopping.
This also has implications for retailers, who must be ready to take advantage of this key moment and secure sales not only during Cyber Monday, but in the weeks that follow.
Logistics advantages
One of the most effective marketing strategies during Cyber Monday is free shipping. According to a report by Pitney Bowes, 65% of consumers say that free shipping influences their purchasing decision. This trend shows how, during this type of event, consumers are looking not only for product discounts, but also for logistical advantages that make them feel they are getting additional value.
Challenges and conclusion
While the opportunities are many, Cyber Monday also poses challenges. High competition, logistical issues and consumer expectations can create difficulties for retailers.
Another trend that has been detected as a result of Black Friday and Cyber Monday is a considerable decline in shopping in the months leading up to Cyber Monday. In fact, it is predicted that this year, up to 75% of consumers will decide to pause their shopping and wait until 29 November and 2 December to make purchases. This means that, as a brand, it will take a strong enough campaign to make up for those losses, which means standing out from the crowd.
Therefore, we must never forget such basic things as ensuring that we have enough stock, that the technological infrastructure is prepared for an increase in traffic and managing the shipping logistics in time. As well as avoiding saturating consumers with too many complex offers, as this could lead to mistrust.
Cyber Monday is much more than an online sales day; it is a global phenomenon that has changed the way all consumers shop and serves as an impetus for the growth of e-commerce year after year. Undoubtedly, this event will continue to evolve and establish itself as an essential pillar for e-commerce.
