How have Cyber Monday sales changed for 2021?
In 2020 Cyber Monday sales hit $10,8 billion, making it the biggest online shopping day in the U.S, despite early discounts from retailers. This year, the event will gain even more momentum as shoppers' behavior has changed due to the pandemic, where customers want to avoid crowds and potential shipping delays.
October 15, 2021
5 min read
Cyber Monday before COVID
Although Cyber Monday hasn’t been around as long as Black Friday, consumers treat it with the same level of urgency since it’s one of the most important days of the year to save money for the Holiday Shopping.
So when and where did this event take its importance?
Since the beginning of the 21st century and the raising era of the internet, the Monday after Thanksgiving has been a very popular online shopping day, where shoppers visit their favorite website brands to check on big discounts; and even before the 2000’s came, shoppers took that weekend to go to the mall to take advantage of the Black Friday deals.
Later in 2005, Ellen Davis the President of the National Retail Federation, decided to mark that Monday as an official shopping day, giving it the name of “Cyber Monday”, not knowing the relevance it was going to take in the future, where Americans are now spending more money during this event than Thanksgiving and Black Friday combined.
Where does Black Friday stop and Cyber Monday begins?
This year, Cyber Monday officially starts on the fall of November 29th, and Black Friday will begin on the 26th. However, most business owners will start their Cyber Monday and Black Friday deals before those official dates to create even more urgency among their customers.
If you are a business owner, the important thing to consider is that you have to get your inventory, your online store, shipping issues, and everything else ready, so you can provide the greatest customer experience for your oldest and new clients.
And if you are just starting your company, this is a big opportunity to increase not only your sales, but especially your brand awareness.
How can you get your company ready for Cyber Monday in 2021?
Taking into account that in 2020 Cyber Monday sales hit more than 10 billion, companies like Salesforce expect U.S. digital sales to grow 10%, Deloitte forecasts an 11% to 15% increase in eCommerce holiday sales, which can represent for the economy between $210 billion to $218 billion for this season.
And, whether their predictions are correct or not, the one thing sure is that there will be more customers willing to spend their money online, than last year; therefore, omnichannel retailers have an even bigger opportunity to make their companies stand out during this event.
Here is what you have to keep in mind for this year...
Start your Holiday Marketing Campaign ASAP
As we stated before, most retailers will start pushing earlier promotions, and you don’t want to get left behind, so if you haven’t started your Holiday Marketing Strategy, now is the time to do it.
You may want to read: 5 Holiday Marketing Tips to entice your customers
Besides, according to Publicis Sapient 62% of shoppers are concerned about having issues when receiving their purchases in time for the holidays; that’s why you have to take advantage of the early shopping behavior.
However, this can also be a huge competitive advantage for small business owners, to offer bigger discounts to their loyal customers that will motivate them to prefer doing their shopping with the local one, rather than the big one who is offering only a 10% discount.
Anyhow, always take into account that what matters the most on your marketing campaigns is targeting, rather than quantity. So, start asking yourself the questions: Who will be the best customer to target during the holidays? Your loyal customers? They are the ones that not only are more likely to buy from you, but they'll probably buy even more.
Before COVID, business owners would look for random customers; now, they are targeting the ones who are most likely to buy their products. As a consequence, you have to identify them, treat them as if they were acquired using ads, share with them the best deals, and if you can, offer personalized items. Make sure you don't lose them.
A seamless shopping experience also means Flexible Payments
According to Klarna, 75% of Gen Z, 76% of millennials, and 60% of Gen X are looking for more flexible payment options; and 80% are expecting a seamless experience with convenient ways to pay. Therefore, make sure the checkout platform you use is safe, fast, secure and can provide all types of payments for your customers like the Subscriptions Cloud App.
If you are using a platform that is making your site slower, change it immediately, because shoppers will not have patience, and if you provide a poor shopping experience they will not return. So, for Cyber Monday, it is essential that you fix issues like having a cart that does not complete transactions fast, or can’t accept a gift code, or delivers error messages, because according to a survey by FullStory this can cost you 55% of your shoppers.
In addition, offer free returns so your customers can be less hesitant about shopping online and they can have more peace of mind. And if you can, offer free shipping, which is a no brainer for digital customers.
If you want to provide a seamless omnichannel experience for your customers during Cyber Monday, contact us and book your free consultation here! https://seeed.us/contact-us