Customers are increasingly becoming comfortable about using mobile devices for online shopping. Digital analysts report that both Black Friday and Cyber Monday set new records this year in terms of sales, with noticeable jumps in purchases made using tablets and smart phones. Cyber Monday spending rose 30.3% compared to last year while Black Friday sales jumped 21% (IBM Benchmark).
According to comScore, around 57 million Americans spent over $1 billion on Black Friday, a 26% jump from last year and the highest-ever recorded online sales volume in a single day – until Cyber Monday this week, which far exceeded initial sales projections by comScore, which estimated a 20% increase from last year.
The record-breaking sales indicate a lucrative holiday season ahead for ecommerce, despite new online tax rules implemented in California and other states this year. Experts attribute the impressive growth to heavy marketing and excellent deals by online merchants, consumer confidence in the US economy, and unsurprisingly, the explosion of smart phones, iPads, tablets, and ecommerce apps.
The figures make it clear that mobile shopping is only bound to grow bigger and it could even be said to be shaping the future of ecommerce. As if to underline this assumption, tablets and Amazon Kindles are, unsurprisingly, so far among the hottest holiday sellers.
Top 10 Cyber Monday product search terms:
1. Kindle Fire
4. iPod Touch
5. iPad Mini
7. Amazon Kindle
8. Wii U
9. Kindle Fire HD
10. Ugg Boots
Both Cyber Monday and Black Friday are two key holiday shopping days that come right after Thanksgiving and lead up to a full-blown holiday shopping season. Cyber Monday, introduced by online retailers seven years ago, is also known as e-commerce’s version of Black Friday.
“Cyber Monday was not only the pinnacle of the Thanksgiving shopping weekend but when the cash register closed it officially became the biggest online shopping day ever,” IBM Smarter Commerce strategy director Jay Henderson stated in a report.
The holiday online shopping bonanza, however, is far from over. With the borderless and viral nature of online retail, Cyber Monday eases into Cyber Week for many online merchants, offering endless bargains and distributing ads all throughout the period between Thanksgiving and Christmas Eve.
Amazon.com, the largest online retailer, has promised more excellent, albeit time- and quantity-limited deals, all throughout this week. The same could be said for many important ecommerce players. Bargain hunters are ever ready to pounce on Cyber Week deals promised by the likes of Best Buy, Newegg, Buy.com, Dell, TigerDirect.com, and many more big and small online retailers.
Sharp promos being offered up by merchants left and right would certainly have an impact on profits. A bigger picture on how holidays sales have so far been doing will emerge when retailers post their monthly sales reports this coming Thursday.