eCommerce

Analysis of Black Friday & Cyber Monday

It’s amazing isn’t it? Thanksgiving dinner comes and goes like a flash of lightning on a hot summer evening. You spend weeks planning the event and hours cooking, but it’s all gone in the blink of an eye. Then you’re eating leftovers for the next four days.

The same could be said for the mega shopping events surrounding Thanksgiving – Black Friday & Cyber Monday! We spend weeks, even months preparing for the event and now it’s all done for the year. It’s a mad rush for what seems an infinitesimally small amount of time.

So how did everyone fair? Make any huge sales (or purchases)? The numbers seem to indicate we all did well, as ecommerce yet again proved its worth during the post turkey shopping rush.

Black Friday

Black Friday is the day brick and mortar retailers look forward to the most, at least according to the new tradition. But that’s rapidly changing, and not because people aren’t shopping anymore! Black Friday weekend sales (now including Thanksgiving itself) added up to over $50 billion this year, up from $45 billion in 2010, so people are still spending.

However, more than ever, folks are turning to their computers for the big deals. This year’s virtual Black Friday sales racked up around $816 million alone, with another $475 million or so spent on the big turkey day. Altogether, before Cyber Monday, online shoppers had spent almost $13 billion!

That’s still obviously a considerable chunk of the populace waiting outside Best Buy and Wal-Mart to grab super cheap Blu Ray players and bed sheets (or to pepper spray each other, as the case may be). However, as years go by and people continue to get tired of the madness, the electronic trend will keep rising. Surely 2012’s Black Friday weekend will bring in even more record breaking sales.

Cyber Monday

Last year, Cyber Monday sales passed the $1 billion mark for the first time ever. In fact, it was the heaviest online shopping day in history, with customers spending more per person. But there was no telling with 2011’s edition of the shopping holiday, as people may be more worried about the economy than getting cheap stuff for aunts and uncles.

Luckily for eretailers, that wasn’t the case at all. According to the Associated Press, online sales for Cyber Monday were up 33% this year! The full numbers are still rolling in, but if the percentage holds it will put sales upwards of $1.30 billion.

What’s the cause of the big upswing? Since Black Friday online sales are up as well, it could be a natural progression of the trend. Another factor may be discounts and coupons – approximately 80% of eretailers had some sort of Cyber Monday sale or incentive. Yet another reason for the upswing in sales could be associated with increased computer/tablet/smartphone use among the shopping populace. With more avenues comes more shoppers to use them!

Whatever the case, it’s clear Cyber Monday is in no danger of disappearing anytime soon. It combined with great Black Friday weekend numbers resulted in a terrific time for every online shopper out there. On to December!