Cyber Monday 2018
Cyber Monday 2018 has broken records, as expected. Every Cyber Monday has broken the record set by the previous Cyber Monday. However, the difference this time is how it has exceeded expectations. Cyber Monday 2018 was predicted to have a total of $7.8 billion in online sales. It passed that prediction by $100 million. This resulted in a total of to $7.9 billion in online sales. This year’s Cyber Monday has seen a growth of 19.9% compared to last year’s. “Cyber Monday sales topped $7.9 billion according to Adobe Analytics data, making it the single largest shopping day in U.S. history,” said Adobe’s head of marketing and consumer insights John Copeland in a statement. “Sales coming from smartphones hit an all-time high of $2 billion and we saw a significant spike in the Buy Online, Pickup In-Store trend.”
Amazon has also stated that Cyber Monday 2018 is the single largest shopping day in the online store’s history. More contributing factors for this year of growth can be attributed to mobile purchases and BOPIS. Mobile purchases hit record levels of $2.2 billion. Every online retailer did see one common factor among their online purchases. There is a huge variety in the products being purchased.
Each year consumers spend more money online. This eCommerce holiday wasn’t just about big numbers. There was an extremely large amount of variety that could be seen among the products sold. According to Amazon over 18 million toys and 13 million fashion items were sold in Black Friday and Cyber Monday combined. The most sold product on Amazon was the Amazon Echo Dot. The Echo Dot is one of the latest versions of Amazon’s Alexa helper AI. Surprisingly, the second most sold item is an AncestryDNA: Genetic Ethnicity test kit. Among those two selections is a wide variety of clothing, video games, and more. Items such as the Nintendo Switch, LG TV’s, drones, and more.
Physical Retailers Respond
The large number of online sales might be intimidating to storefront retailers. A common fear being the growing number of people that prefer to shop from their homes. However, retailers have anticipated these large jumps in online sales. In order to combat this, some retailers have even decided to extend the duration of their sales into the following Tuesday. Giving Tuesday, traditionally known more about charitable causes, has become less about giving and more about spending this year. Some retailers are expected to extend their special discounts well into the week. Next year might bring more traffic to these stores, or more might be leaving to stay at home and shop from their devices.